Have you been charged with bankruptcy fraud?
The first thing you need to do after you’ve been arrested for bankruptcy fraud, is to call a Cooley, Iuliano, Robey PLLC white collar crime attorney at 859-636-6803. Each of our partners is a member of the National Association of Criminal Defense Lawyers, as well as the Kentucky Bar Association.
Our skilled bankruptcy fraud defense attorneys are always prepared to do a full investigation and defend your case at federal courts, all while protecting your rights from the prosecution while they pursue their bankruptcy fraud case against you. Our bankruptcy fraud law firm and bankruptcy fraud attorneys are going to make certain that the Commonwealth of Kentucky is held to their burden of providing their case beyond a reasonable doubt.
What is bankruptcy fraud?
Declaring bankruptcy is a form of protection a person or business has in order to avoid having to pay debts when they are fiscally insolvent or simply unable to. It’s a legal protection, and so creditors are obligated to forgive loans or help come up with a plan for the debtor to pay them. Bankruptcy does not protect against every form of debt (like student loans, alimony, etc), but it does against most.
Bankruptcy fraud, called fraud in insolvency in the Kentucky Revised Statute 517.080 federal law, the statutes can apply to various scenarios in which a person with debts has already filed for bankruptcy, the process have begun in court, and they then proceed to try to destroy, remove, conceal, encumber, transfer or otherwise “deals with any property with intent to defeat or obstruct the claim of any creditor.” In other terms, it’s fraud if the person is hiding wealth or debts from the bankruptcy court or bankruptcy process, either by selling or getting rid of property or knowingly falsifying writings or records about it, as well as knowingly misrepresenting or refusing to disclose to a creditor or other bankruptcy trustee the existence or value of a property. Bankruptcy fraud is a Class A misdemeanor and is a federal crime.
There are many federal statutes prohibiting specific types of bankruptcy fraud, and each will carry its own potential penalty for a violation of these statutes:
- 18 U.S.C § 152 – Concealment of assets, false oaths, bribery
- 18 U.S.C § 153 – Embezzlement against estate
- 18 U.S.C § 154 – Adverse interest and conduct of officers
- 18 U.S.C § 155 – Fee agreements in cases of title 11 and receiverships
- 18 U.S.C § 156 – Knowing disregard of bankruptcy law
The statute of limitations for the majority of federal bankruptcy fraud cases is five years in federal prison, meaning that the government must submit an indictment within five years of a bankruptcy fraud violation to seek federal charges against someone accused of fraud.
If you are being accused of a bankruptcy fraud crime, finding experienced professionals like Lexington KY criminal defense attorney or a bankruptcy fraud lawyer immediately after your arrest is where you should start in taking control of your future.
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Types of Bankruptcy Fraud Charges & Penal Codes in Kentucky
White collar crimes in Kentucky are non-violent offenses that involve fiscal matters such as fraud, money laundering, tax evasion, insider trading, identity theft and others, normally carried out by people in business or government. Being accused of a white collar crime is enough to ruin your reputation or image as well as your livelihood, which is why you would want a white collar crime defense attorney lexington or bankruptcy fraud lawyer as soon as you’re accused.
18 U.S.C. § 157 bankruptcy fraud prosecutions can involve allegations that the defendant:
(1) A person is guilty of fraud in insolvency when, knowing that proceedings have been or are about to be instituted for the appointment of a receiver or other person entitled to administer property for the benefit of creditors, or that any other composition or liquidation for the benefit of creditors has been or is about to be made, he:
(a) Destroys, removes, conceals, encumbers, transfers or otherwise deals with any property with intent to defeat or obstruct the claim of any creditor, or otherwise to obstruct the operation of any law relating to administration of property for the benefit of creditors; or
(b) Knowingly falsifies any writing or record relating to the property; or
(c) Knowingly misrepresents or refuses to disclose to a receiver or other person entitled to administer property for the benefit of creditors, the existence, amount or location of the property, or any other information which the actor would be legally required to furnish to such administrator.
(2) Fraud in insolvency is a Class A misdemeanor.
If you or someone you care about has been charged with a bankruptcy fraud in Kentucky, contact our reputable criminal defense lawyers or bankruptcy fraud lawyers as soon as possible by calling 859-636-6803.
Penalties in Bankruptcy Fraud Cases
If it involves filing a petition for bankruptcy protection as part of a scheme or ploy to defraud creditors is still a bankruptcy fraud. Penalties for white collar crimes could range from very expensive fines to a long period in prison sentences. Even if the most common punishment is time in minimum-security prisons, there’s no reason it can be something even harsher, especially if substantial amounts of money are involved. White collar crimes like tax fraud, mortgage fraud, credit card fraud, insider trading and fraud against the government are harshly punished and sometimes even handed over to federal prosecutors. Although the penalties for bankruptcy fraud will depend on the work of your criminal bankruptcy fraud lawyer, usually bankruptcy fraud offenses are punishable by a Class A misdemeanor.
Take bankruptcy fraud offenses and allegations seriously and it is important to get professional legal representation in an expert local bankruptcy fraud lawyer as soon as possible to see to your case. It is advised for you to share this information with your bankruptcy fraud defense lawyer at the earliest.
Misdemeanor
In general, a misdemeanor is a crime punishable by less than a year in prison, and sometimes there are only heavy fines involved, probation, or other sentences less harsh than with felonies. In the US, the term and consequences for someone guilty of a bankruptcy fraud crime punishable by a misdemeanor are;
- Class A misdemeanors – 90 days to 12 months jail time, including a monetary fine that can cost up to 500 dollars , and
- Class B misdemeanors – up to 90 days jail time, including a monetary fine up to 250 dollars
Nonetheless, they are a stain on your permanent record and can change your life for the worse, which is why you need the best bankruptcy fraud attorney you can get. A competent bankruptcy fraud defense attorney can get your case dismissed, charges filed against you dropped, or fight for an expungement of your misdemeanor conviction altogether. It’s also good advice to hire bankruptcy fraud lawyers who pay close attention to create a great working attorney client relationship with the people and cases they take on.
Federal
In the United States, more than other crimes, white collar offenses are usually prosecuted by federal authorities. The FBI is responsible for processing those accused of federal white collar crimes. Federal white collar charges result when they transpire on or against federal property and institutions, but they are mostly a federal offense because they normally involve financial institutions and businesses across several states. Some of these offenses include, but are not limited to, money laundering, tax evasion, election law violations, embezzlement, and several types of fraud, like mortgage, bank, health care, mass marketing, securities, and commodities, and corporate fraud. People in business or government are the vast majority of those arrested for white collar crimes. These are not victimless crimes.There can be billions of dollars at stake, along with the livelihoods of thousands of people. The federal bankruptcy court system has penalties for white -collar crimes can range from a simple fine to jail time of a few years. The punishment will depend on the extent of the money involved, people affected, and even the social implications of your crime. You will immediately need a federal bankruptcy fraud lawyer if you are facing bankruptcy fraud charges in Kentucky or anywhere else.
You need an experienced lawyer that specializes in criminal defense
All of our criminal bankruptcy fraud attorneys at Cooley Iuliano Robey, PLLC are members of the National Association of Criminal Defense Lawyers as well as the Kentucky Bar Association, with decades of experience in matters of bankruptcy fraud charges and bankruptcy fraud defenses or other practice areas. We value the best interest of every client, above all, and with our resources and insights about law, we can create new defense opportunities in your case, no matter how minor. When it comes to bankruptcy fraud crimes, you need bankruptcy fraud attorneys who will fight for your constitutional rights, and start by doing an evaluation of every evidence and substance of the detail of your case content, no matter how inconsequential they may be. We will then create the best defenses for your trial and strive to avoid the harshest sentence or any varying degree of penalties.
Free Consultation & Case Review from our experienced bankruptcy fraud lawyers
At CIR Legal, our bankruptcy fraud attorney’s bankruptcy fraud defense services include offering free consultation and case review to potential clients or otherwise. Our bankruptcy fraud attorneys have fought and will always strive to fight for the rights of every defendant in the state of Kentucky, no matter the type of offense. Call our law office at 859-636-6803 or fill out our form for a free consultation be it pm or am.
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