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.
Bankruptcy Abuse and Fraud NewsGN News
• Naval Hospital Goes To Charleston County In Bankruptcy Settlement Charleston...
Charleston Post Courier Naval hospital goes to Charleston County in bankruptcy settlement Charleston Post Courier The county had planned to lease the first, second and eighth floors of the hospital building for the county39s Department of Alcohol and Other Drug Abuse Services, and other offices. In a related deal, the county sold its Charleston Center building on and more raquo
• In Re Cherrett The Recorder
In re Cherrett The Recorder Cherrett and his wife filed a voluntary Chapter 7 bankruptcy petition on August 30, 2013. They owed Aspen 550,000 under the terms of the Housing Loan. Aspen filed a motion to dismiss the Chapter 7 petition for abuse under 11 U.S.C. 707b1.
• Vermont Streamlines Process For Substance Abuse Counselors BurlingtonFreePre...
BurlingtonFreePress.com Vermont streamlines process for substance abuse counselors BurlingtonFreePress.com Secretary of Human Services Al Gobeille said the new rules address some of the challenges faced by Maple Leaf Treatment Center, which closed its Underhill residential treatment facility and Colchester outpatient branch and filed for bankruptcy in February. and more raquo
• St. Paul Archdiocese Priest Sex Abuse Legal Costs: 16M TwinCities.comPioneer...
TwinCities.com Pioneer Press St. Paul Archdiocese priest sex abuse legal costs: 16M TwinCities.com Pioneer Press Since the Archdiocese of St. Paul Minneapolis39 2015 bankruptcy filing, after a torrent of priest sexual abuse claims, the legal costs are nearing 16M. and more raquo
• Exhead Of Vatican Hospital Found Guilty Of Abuse Of Office National Catholic...
National Catholic Reporter Ex head of Vatican hospital found guilty of abuse of office National Catholic Reporter Vatican City A Vatican court found the former president of the Vatican owned pediatric hospital guilty of abuse of office for using donations belonging to the hospital39s foundation to refurbish a Vatican owned apartment used by Cardinal Tarcisio and more raquo
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