Hey art, as someone who lacks your legal acumen, I was just...

Hey art, as someone who lacks your legal acumen, I was just wondering (idly, for no reason in particular) about the legal ramifications of trading while insolvent. I could be wrong, but from what I understand this is a criminal offence. Can people go to jail for such a crime? Does this happen often? Also, what tends to be the fate of companies who are found to be trading under such circumstances? Do they often wind up making, ahem, "buckets of money"? Or is their end less salubrious? I am a mere ignoramus in such matters and would greatly value your input.