Joe Bloggs founder declared bankrupt

Flamboyant fashion chief Shami Ahmed has been declared bankrupt after losing millions of pounds on spread betting deals, it emerged tonight.

Best known as founder of the Joe Bloggs jeans label empire, the former market trader used to be one of Britain's top young entrepreneurs, a multimillionaire by the age of 30 with a garage of Ferraris and Rolls-Royces.

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Flamboyant fashion chief Shami Ahmed has been declared bankrupt after losing millions of pounds on spread betting deals.

It's easily done. I used a supposedly automated betting program once and suddenly discovered I would have been £600 out of pocket if a certain outsider had won the race. Luckily for me it didn't but I never took the same chance again.