22 Jun Bankruptcy Fraud — What Happens When You Are Caught?
The Topeka-Capitol Journal Online reported today one Debtorâ€™s bankruptcy fraud criminal conviction yesterday in the U.S. District Court in Topeka, Kansas. His wifeâ€™s trial is reported as scheduled for August 2d. According to the article, James Moser:
- Concealed information about their option to purchase 16.5 acres of prime real estate at the location where they operated a fully equipped Arabian horse training facility.
- Concealed the fact they had $125,000 worth of gold and silver coins and collectible stamps. (Mr. Moser claimed the property had been transferred when it had only been pledged as collateral for a debt.)
- Concealed their right to a commission of up to $450,000 for marketing and sale of the property at the location where they operated the horse training facility.
BLN contributors have written before and recently on bankruptcy fraud â€“ just last week Russell A. DeMott, Charleston Bankruptcy Lawyer, wrote his excellent post, Bankruptcy Fraud: â€œYour Cheatinâ€™ Heartâ€, following up on Craig Andresenâ€™s, Bloomington, Minnesota bankruptcy attorney and BLN member, â€œNo, A Bankruptcy Lawyer Should Not Withdraw from the Case if the Client Wonâ€™t Tell the Truth.â€
Even earlier, Jill Michaux, Topeka Bankruptcy attorney and BLN member, wrote about another Kansas conviction in 2008 in Wichita Car Dealer Convicted of Bankruptcy Fraud â€“ Facing 5 Years in Jail.
Mr. Moser is set for sentencing Sept. 20. He faces a maximum penalty of five years in federal prison and
Click here for examples of bankruptcy fraud investigations in fiscal year 2010 compiled at the IRS web site.
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