Failure to Report Asses During a Bankruptcy Proceeding Can Have Serious Consequences
Going through the bankruptcy process is often a stressful experience, often producing anxiety about ones financial future. However, it is important for individuals who are going through the bankruptcy process to provide their attorney and the bankruptcy court with complete and truthful information regarding their financial circumstances. Failing to do so can cause a myriad of issues including: delay in the bankruptcy process, financial ramifications, and criminal sanctions. Federal judge sentences area woman to 27 months in prison and orders her to pay over $155,000 for falsifying statements and concealing assets during her bankruptcy proceeding. Late last month, a federal judge sentenced a woman to 27 months in prison followed by three years of supervised release, after she plead guilty to concealing assets and falsifying statements during her bankruptcy proceeding . In addition she is required to pay over $155,000 in restitution. According to court r...