If someone wins a court case against you and you owe them £500k, but you've sold your home and put your money in a bank account abroad and say you don't have any money, they're going to know you're lying as you've just sold your home. I believe you can go to prison for that.
Depends how good of a mate he was. A mate of mine loaned me £3,000 a few years ago. Instead of paying it back, I asked for 15 more, which he lent me :eek: So is he more stupid than you?