Bankruptcy

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Bankruptcy Abuse and Fraud

Bankruptcy fraud is a crime.  Common fraudulent or abusive acts under bankruptcy statutes include concealment of assets, concealment of documents, destruction of documents, false statements, conflicts of interest, fraudulent claims, and redistribution of assets arrangements.

Nearly two thirds of bankruptcy fraud involves the intentional non-disclosure of assets and cash in a bankruptcy petition. Schemes also include the hiding of assets, making of false statements, making multiple filings, undervaluing assets, forging petitions, use of petition mills that provide false information and making gifts or transferring assets immediately prior to or during bankruptcy. The penalties can be severe.  Bankruptcy fraud is a felony punishable by up to 5 years in prison and a $250,000 fine. Conviction for bankruptcy fraud can also invalidate your bankruptcy and allow your creditors to collect debts that were discharged by the bankruptcy.

Bankruptcy fraud has been used by individuals involved in all sorts of businesses. It's a favorite ploy of organized criminals and other con men. Consulting with legal counsel can provide information about legal rights, alternatives to bankruptcy and procedures that could keep many from crossing the line to criminal behavior.

 

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Bankruptcy Abuse and Fraud NewsGN News

UPDATE 1US Judge In Takata Bankruptcy Halts Lawsuits Vs Automakers Business ...
UPDATE 1 US judge in Takata bankruptcy halts lawsuits vs automakers Business Insider Lawyers for the plaintiffs called the request to halt lawsuits against the automakers quotan abuse of the bankruptcy laws for the benefit of all of the world39s largest automobile manufacturers.quot The official bankruptcy committee that represents injured and more raquo

Welcome To The Law Of Unintended Consequences CovingtonMaple Valley Reporter
Covington Maple Valley Reporter Welcome to the law of unintended consequences Covington Maple Valley Reporter One of the major provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act was to increase up front costs of filing for bankruptcy and thus make the whole process more burdensome. A few years later these tougher laws helped to cause the

US Judge In Takata Bankruptcy Halts Lawsuits Vs Automakers Reuters
Reuters US judge in Takata bankruptcy halts lawsuits vs automakers Reuters Lawyers for the plaintiffs called the request to halt lawsuits against the automakers quotan abuse of the bankruptcy laws for the benefit of all of the world39s largest automobile manufacturers.quot The official bankruptcy committee that represents injured and more raquo

US Judge In Takata Bankruptcy Halts Lawsuits Vs. Automakers For 90 Days Auto...
Automotive News subscription blog US judge in Takata bankruptcy halts lawsuits vs. automakers for 90 days Automotive News subscription blog Lawyers for the plaintiffs called the request to halt lawsuits against the automakers quotan abuse of the bankruptcy laws for the benefit of all of the world39s largest automobile manufacturers.quot The official bankruptcy committee that represents injured and more raquo

Ariz. Woman Seeks To Revive Charter School Closed Amid Sexual Abuse Allegatio...
Santa Fe New Mexican Ariz. woman seeks to revive charter school closed amid sexual abuse allegations Santa Fe New Mexican The leader of a Phoenix charter school wants to reopen the Secondary Learning Center, which closed in April amid sexual abuse claims. Uriel J. . The StarShine Academy in Phoenix filed for bankruptcy last year but has not closed. McCarty said at the

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Facts of Law - Bankruptcy Abuse And Fraud