Former footballer Paul Kitson is accused of blowing £25,000 on betting rather than paying his debts.
The ex-Premier League striker, 47, was declared bankrupted 12 months ago after at least two businesses failed.
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, the Daily Mirror reports.
The former Leicester, Derby, Newcastle, West Ham, Charlton, Crystal Palace striker 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.”
If you need some help with your gambling addiction, here’s some information…
– National Gambling Helpline Freephone 0808 8020 133
8am-midnight 7 days a week
www.nhs.uk/Livewell/addiction/Pages/gamblingaddiction.aspx (includes a short questionnaire, self-help tips and numbers)
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