Bankruptcy Fraud — What Happens When You Are Caught?

22 Jun Bankruptcy Fraud — What Happens When You Are Caught?

The Topeka-Capitol Journal Online reported today one Debtor’s bankruptcy fraud criminal conviction yesterday in the U.S. District Court in Topeka, Kansas. His wife’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 – just last week Russell A. DeMott, Charleston Bankruptcy Lawyer, wrote his excellent post, Bankruptcy Fraud: “Your Cheatin’ Heart”, following up on Craig Andresen’s, Bloomington, Minnesota bankruptcy attorney and BLN member, “No, A Bankruptcy Lawyer Should Not Withdraw from the Case if the Client Won’t Tell the Truth.”

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 – 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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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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