Fraud relating to bankruptcy and insolvency can involve companies fraudulently trading immediately before being declared insolvent, or phoenix companies.
Phoenix companies are when, following the insolvency of one company, a new company is set up overnight with the same directors, but is not liable to pay for the losses of the previous business because they seem to be different entities.
Bankruptcy and insolvency related fraud also includes illegal trading while suspended or disqualified.
Bankruptcy describes the financial status of a person. The victims of bankruptcy and insolvency related fraud tend to be the businesses that have given the bankrupt person credit, eg credit card companies and personal loan companies.
Fraud has been committed if money has been lost.
If fraud has been committed, contact Action Fraud.