Sheriff Smith, of Hamilton Sheriff Court, has awarded a Bankruptcy Restriction Order against a debtor for 12 years, creating a record for Scotland.
Derek Carlyle of Hamilton will now have serious financial restrictions placed on him until April 2024.
It was found Carlyle had sold a development property in Bothwell in August 2008 and deposited £563,941.70 into an account in his Father's name, which he controlled.
The funds were then transferred to other accounts held by family members and associates and withdrawn using cash withdrawals.
Mr Carlyle was sequestrated by Jewson Builder's Merchants in 2009.
When asked to account for the funds, Mr Carlyle stated under oath that he had given money to his mother, paid some legal fees and spent the remainder on an extravagant lifestyle including travelling, drinking and partying.
Bankruptcy Restrictions Orders were introduced by in 2008 to offer protection to creditors and businesses and impose certain restrictions on debtors who have acted inappropriately when made bankrupt, or expect to be made bankrupt. There are various types of behaviour which can lead to a BRO, including gambling, extravagance, speculation and failing to co-operate with the trustee. The restrictions can apply for between two and 15 years after bankruptcy.