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

• Archdiocese Angers Many By Contesting Abuse Claims New York Times
Chicago TribuneArchdiocese Angers Many by Contesting Abuse ClaimsNew York TimesMore than 550 people who say they were sexually abused by Roman Catholic priests or church employees have filed claims against the Archdiocese of Milwaukee in bankruptcy proceedings, the largest group of claimants against any of the eight dioceses that 550 seek restitution from Catholic Archdiocese for alleged sexual abuseFond du Lac Reporter550 abuse claims filed against Wisconsin archdioceseFox Newsall 564 news articles raquo
• Milwaukee Archdiocese Faces 550 Sex Abuse Claims CBS News
Milwaukee Archdiocese faces 550 sex abuse claimsCBS NewsGetty MILWAUKEE About 550 people are asking for restitution for alleged sexual abuse by clergy in the Archdiocese of Milwaukee more than in any of the other US dioceses that have filed for bankruptcy protection, according to a lawyer involved in and more raquo
• Start Fresh Today And LegalPRO Systems, Inc. Form Strategic Partnership To ...
Start Fresh Today and LegalPRO Systems, Inc. Form Strategic Partnership to Sacramento BeeThis platform provides access to a host of other products and services to help attorneys comply with the Bankruptcy Abuse Prevention and Consumer Protection Act BAPCPA. quotOur integration with Start Fresh Today further expands the features and and more raquo
• Bankruptcy Abuse Reform Act And You JD Supra Press Release
Bankruptcy Abuse Reform Act and YouJD Supra press releaseIn 2005, the government implemented a wide range of reforms insofar as bankruptcy was concerned. The Bankruptcy Abuse Prevention and Consumer Protection Act BAPCPA and Bankruptcy Abuse Reform Act 2005 were passed by lawmakers aimed at protecting
• Law From 2005 Harms Debtors Needing A New Start Buffalo News
TheNewsTribune.comLaw from 2005 harms debtors needing a new startBuffalo NewsIn 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act to put the brakes on rapidly escalating filings. This act was not intended to make bankruptcy unreachable for those who were heavily in debt and needed a fresh start Utah bankruptcy filings up 2, but pace slowsSalt Lake Tribuneall 20 news articles raquo