Glenn Armstrong was given a bankruptcy restrictions order (BRO) for 12 years at the High Court last week, following an investigation by the Insolvency Service.

This will mean that he is unable to borrow over £500 without informing the lender that he is subject to extended restrictions or cannot act as a company director without the court’s permission for 12 years under the order.

Bankruptcy proceedings began against Armstrong in 2018 following a creditor petition.

The proceedings found that Armstrong had offered false and misleading information to four individuals to allow him to secure £273,000.

Armstrong signed an undertaking with the Financial Conduct Authority (FCA) in December 2018, where he said he would not enter into any further loan agreements directly or through his companies.

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He was declared bankrupt in February 2021, and the 64-year-old had been subject to an 18-month interim BRO secured in August 2022.

Joe Sullivan, official receiver at the Insolvency Service, said: “Glenn Armstrong’s conduct in misleading investors was unacceptable and we are pleased to have secured stringent bankruptcy restrictions against him.

“The 12-year bankruptcy restrictions order, which follows on from an interim 18-month BRO, reflects the seriousness of the case and misconduct identified by the Insolvency Service.

“We will not hesitate to take robust action when financial wrongdoing is uncovered.”