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Facts - Books - News    U.S. Facts Of Law:

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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Calif. Couple Charged With Abuse For Starving, Chaining Their Children WGRZTV
WGRZ TV Calif. couple charged with abuse for starving, chaining their children WGRZ TV The Turpins filed for bankruptcy in 2011, stating in court documents they owed between 100,000 and 500,000, The New York Times reported. At that time, Turpin worked as an engineer at Northrop Grumman and earned 140,000 annually and his wife was a 13 Siblings, Some Shackled to Beds, Were Held Captive by Parents, Police in California SayNew York Times Torture/Child Endangerment Investigation in Perris from Riverside County Sheriff39s Department Perris Station : NixleNixle all 828 news articles raquo

Catholic Sex Abuse Survivors Ask Bankruptcy Judge To Let State Trials Proceed...
Billings Gazette Catholic sex abuse survivors ask bankruptcy judge to let state trials proceed Billings Gazette Survivors of sex abuse by church officials of the Roman Catholic Diocese of Great Falls Billings are asking a bankruptcy judge to allow two state district court lawsuits to go to trial to determine damages and to move the case along. Settlement talks

Bidder For The Weinstein Company Says Bankruptcy Protection May Be Best The O...
CNBC Bidder for the Weinstein Company says bankruptcy protection may be best the option CNBC Harvey Weinstein39s brother and company co founder Robert Weinstein, and David Glasser, the film studio39s president, remain at the Weinstein Company, which has produced and distributed movies including quotThe King39s Speechquot and quotSilver Linings Playbook and more raquo

Bankruptcy Judge Rejects Plans For Twin Cities Archdiocese Minneapolis Star...
Minneapolis Star Tribune Bankruptcy judge rejects plans for Twin Cities Archdiocese Minneapolis Star Tribune Judge orders all parties in clergy abuse case back to mediation. Judge denies Twin Cities archdiocese bankruptcy plansFox News Judge rejects archdiocese bankruptcy plans, orders return to mediationMinnesota Public Radio News Judge overseeing Twin Cities archdiocese39s bankruptcy case rejects Pioneer Press CBS Minnesota / WCCO Duluth News Tribune all 12 news articles raquo

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Facts of Law about bankruptcy abuse and fraud in todays law

Facts of Law - Bankruptcy Abuse And Fraud