An Englishman has been jailed for eight months for breaching Britain’s bankruptcy laws by trying to hide the proceeds from the sale of a flat worth £1.2 million, in a judgment that is a “warning to all bankrupts not to try and conceal assets”.

Simon Peter Eagle (54) was sentenced by Chelmsford Crown Court this week following a major investigation by the UK’s insolvency service and the department of business, innovation and skills.

“ Eagle made a cynical and calculated attempt to illegally hide assets from the official receiver. This is a matter that is taken seriously by the courts and can, as has happened in this case, attract a custodial sentence,” said investigating officer Ian West.

He was given two concurrent sentences of five months after he pleaded guilty to two counts of omitting to disclose a bank account he held to the official receiver.