Victims should know there are options which can force a fraudster into bankruptcy. Victims are in effect creditors who can take control and appoint a Trustee to realise a bankrupt's assets, bring claims against third parties and make distributions for the benefit of creditors. 

In this case a bankruptcy petition was brought by an 'investor' in 2013 which secured a Bankruptcy Order against Dr John Edward Hammond, a disgraced dentist for telling his victims he was investing their money in a fictitious property portfolio. Not only has the dentist been jailed but he is bankrupt. 

An Insolvency Service update in March 2015 stated: Dr John Edward Hammond was ordered by Leicester County Court to be bound by the restrictions set out in bankruptcy for an extended period of 14 years for taking and misusing money from investors where there was little or no prospect of recouping that investment. 

Dr Hammond, is therefore bound by the restrictions set out in insolvency law that a bankrupt is subject to until they are discharged from bankruptcy – normally 12 months – until 2029. In addition, he cannot manage or control a company during this period without leave of the court.