Some are trying to keep cars and properties out of the hands of the bankruptcy officials and their creditors, with others suspected of illegally transferring assets to relations before opting for bankruptcy.
The Insolvency Service of Ireland has disclosed it is investigating 210 cases.
Hidden assets worth 3.8m were recovered in one instance, according to the 2018 annual report of the Insolvency Service of Ireland.
Bankrupts were trying to keep bank accounts, buy-to-let properties, cars and rental income secret.
A number of those seeking to sort out their debt situation had attempted to give their assets to a relative prior to bankruptcy, something which is illegal.
Earlier this month, a US jury awarded 18m to bankrupt developer Sean Dunn…
Read the full article at: https://www.independent.ie/business/personal-finance/more-than-200-bankrupts-probed-over-suspicions-they-are-hiding-their-assets-38250589.html