Bankruptcy Fraud

Bankruptcy Fraud

The deliberate attempt to discharge or restructure debts without needing to do so. One may accomplish bankruptcy fraud in a variety of ways, such as hiding assets or filing frequently. In the United States, bankruptcy fraud is punishable by five years in prison and/or a $250,000 fine.
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Holmes acquitted Knight on the charge of making false statements and ordered a new trial on the seven remaining counts, which included conspiracy to commit bankruptcy fraud, bankruptcy fraud-concealment of assets and money laundering.
With the recent rise in bankruptcy filings, stronger enforcement of bankruptcy fraud laws is likely to elevate the CPA's role in investigating civil and criminal bankruptcy fraud.
An Oregon couple was sentenced Tuesday to one month in prison, nine months in home detention and three years of supervision after pleading guilty to a federal bankruptcy fraud charge.
A 57-year-old Tarzana man on Thursday was convicted of bankruptcy fraud related to his 1998 bankruptcy filing through which he attempted to discharge more than $20 million in debt at a federal courthouse in Los Angeles.
As a former prosecutor," Leahy said, "I was surprised to learn that unlike bank fraud, healthcare fraud, and bankruptcy fraud, there is no specific federal crime of `securities fraud' to protect victims of fraud related to publicly traded companies.
2) As a result, federal judges are increasingly applying the Federal Sentencing Guidelines ("Guidelines")(3) to bankruptcy fraud and have begun to implement uniform standards for sentencing defendants convicted of this crime.
On October 10, 1995, Attorney General Reno reaffirmed that aggressive prosecution of bankruptcy fraud was a high priority of the Department of Justice.
In that role, he also worked regularly with law enforcement officials to review suspicious activities reported by the banking community; routinely conferred with regulators of financial institutions; and chaired a bankruptcy fraud task force in the SDNY.
Vaughn Knight, the attorney for former northwest Arkansas real estate developer Brandon Barber, on eight counts including bankruptcy fraud and money laundering.
He is charged with four counts of wire fraud, two counts of bankruptcy fraud and one count of pension fraud.
Joining Reidy is former Chicago FBI supervisory special agent Curtis Crawford, who has more than 27 years of criminal justice experience in areas including organized crime, public corruption, bankruptcy fraud, financial fraud and drug investigation.
Van Doren is out of work because of the federal charges he currently faces as a co-defendant of Barber, the former northwest Arkansas real estate developer: one count of conspiracy to commit bankruptcy fraud, one count of bankruptcy fraud, one count of conspiracy to commit wire fraud, three counts of money laundering and one count of conspiracy to commit money laundering.

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