Paul Kitson the ex-Premier League football striker, 47, was declared bankrupt 12 months ago. This was after at least two of his businesses failed. Now bankrupt football hero Paul Kitson is accused of blowing £25,000 on betting opposed to paying off his debts.
The Insolvency Service has now ruled he must not take control of a firm for four years after “disposing of £25,901 to the detriment of his creditors”.
It added: “He used the funds to gamble with.”
Kitson denied losing the alleged amount in bets.
He said: “The problem began in 1999 when I and lots of footballers fell victim to bad financial advice. “At the time the HMRC had no objection to the tax avoidance scheme we had signed up to – but they changed the rules and we lost a lot of money. “These tax schemes were complicated, so you trusted the advice you were given, but it turned out to be a very bad move.”
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