Former auto dealer Denny Hecker pleaded guilty to conspiracy and bankruptcy fraud and could face up to 10 years in prison. The bankruptcy fraud charge that Hecker has agreed to plead guilty to alleges he transferred $33,057 by wire into a bank account for an unnamed person, but that Hecker exercised control over the account, [...]
Donovan Lindhorst was placed in an involuntary bankruptcy in October 2007, but he didn't plan on allowing authorities to access to all of his assets. According to bankruptcy judge, Lindhorst hid gold, silver and his ownership of a vintage pickup truck in an effort to defraud the bankruptcy system. Federal prosecutors said 69-year-old Donovan Lindhorst [...]
Robert Negrelli, filed bankruptcy on March 23, 2005 and unfortunately lied to the bankruptcy court in an attempt to defraud the system. At the time, Negrelli was a licensed real estate broker, owned a real estate company and specialized in selling high-end homes; but claimed initially that he only earned $81,000 in the two year [...]
Bankruptcy Trustee James Rigby says he smells a rat and can't figure out how it is that real estate mogul Michael R. Mastro is able to continue his lavish lifestyle while in bankruptcy. Last September Mastro and his wife vacationed in Italy the very same month that he filed bankruptcy papers revealing that he was [...]
Protecting Yourself From Bankruptcy Fraud Charges One of the scariest things that can happen to a debtor is to face charges of bankruptcy fraud. Bankruptcy fraud is a serious offense and can carry a prison term of five years plus a hefty fine. So how does a debtor protect himself/herself from charges of bankruptcy fraud?Keep [...]
Expediency is often the road to disaster, or at least that was the case for Olusola Idowu, who was convicted of fraudulently obtaining more than $1.1 million for her home and bankruptcy fraud. Olusola Idowu, 57, was convicted on two counts of wire fraud and one count each of bankruptcy fraud, making false statements in [...]
A 64-year-old bankruptcy debtor who pleaded guilty to federal bankruptcy will go to prison for three months. The debtor filed for bankruptcy in 2007 but did not disclose that she had a 50 percent interest in a $150,000 home and had $3,000 cash in an out of state bank account. And only a month after [...]
In the bankruptcy case of Larsen, David M.; In re, the bankruptcy court refused to redirect the debtor's funds held by a state court for the support of the debtor's minor children to other creditors. The details of the bankruptcy case: The debtor's former wife filed for divorce in 1999. During those proceedings, the debtor [...]
There seems to be an upsurge of anti-bankruptcy rhetoric aimed at indebted Americans to make them feel guilty about their financial circumstances which force them into bankruptcy. Since the critics can't honestly say that bankruptcy is not an effective way to discharge debt and get a fresh financial start, now many are saying that bankruptcy [...]
In the bankruptcy case of Powell, James D. and Betty J., In re (American Bank of Commerce v. Powell), the bankruptcy court ruled against the creditor who accused the debtor of willfully and maliciously causing injury. The details of the bankruptcy case: The elderly debtor kept "pasture cattle" on 20 leases that included properties with [...]