What prevents a company from borrowing a ton of money, spending it all, declaring bankruptcy, and never paying back its creditors?

Details: say the CEO gets a huge "salary" (this is actually borrowed money), buys himself a bunch of toys, then declares bankruptcy and never repays the money. What is the punishment for said CEO?

I am in the process of filing for chapter 7 bankruptcy. My girlfriend and I are also trying to buy a house. She has all of the money for the house. We are going to pay cash. All of the debt that I am declaring bankruptcy on is mine. I haven’t used a credit card in nearly a year, but am still buried in debt.
How soon after declaring bankruptcy can I own property? We would like to put my name on the house at some point, but don’t want it to look like we have been hiding assets.