Bankruptcy restrictions have been extended on an Essex man for another nine years, after he falsified wage slips to make a loan application.
Carlton James Johnson-Vaughton, 48, from Westcliff-on-Sea, Southend, provided false information about his income and created fake wage slips to support an application for a £25,000 loan, which he “had no reasonable expectation of being able to repay”, according to an official receiver.
In March 2019, Johnson-Vaughton obtained a £25,000 loan before applying for his own bankruptcy just two months later. An investigation by the official receiver, who managed his financial affairs upon his bankruptcy, uncovered that he had used and lost the £25,000 on gambling.
Sallie Rose, the official receiver, said: “Carlton Johnson-Vaughton cynically and dishonestly obtained credit, and squandered the funds on gambling, in the few short weeks prior to filing for his own bankruptcy.
“To protect the market from further abuse, we secured extended bankruptcy restrictions which will prevent him from borrowing money from unwary lenders in the future.”
He will now need to disclose his status each time he attempts to secure £500 or more in credit, for the next nine years. In addition to restricting his access to credit, he cannot act as a company director without the permission of the court.