I agree with @KingsDen. I mean in what country can someone take a loan, then hire an accountant or consultant and make a report that the debtor is bankrupt when in fact you have hidden the money. Then the Bank or creditor believes your words and they give up on their money. That sounds impossible. As far as I know there are regulations when you borrow funding and usually creditors or investors have a long selection process to determine whether you are eligible for a loan or funding. Creditors such as Banks also ask for collateral that will be auctioned if you fail to repay your loan.