Fight Back Against Bankruptcy Fraud Allegations
The most common bankruptcy fraud charge involves those alleging a concealment of assets. When a debtor files for bankruptcy, he or she must accurately and to the best of his or her knowledge disclose all assets and liabilities. Especially in Chapter 7 bankruptcy filings, when a debtor is trying to qualify with a low enough income level, if a debtor fraudulently lists his or her assets and liabilities below what they actually are, that is considered bankruptcy fraud.
In some cases, this may have been an inadvertent mistake. If you have been charged with concealing assets or bankruptcy fraud, seek immediate criminal defense representation.
The Defense You Need When Accused Of Concealing Assets
Our attorneys are highly effective in criminal defense cases and have extensive jury trial experience. We always strive to place our client in the best position to win. For the past three years, founding attorney Damon M. Cheronis has been selected for inclusion in Super Lawyers, in conjunction with Chicago Magazine, Rising Stars list in the area of criminal defense. This honor is based on peer review and is bestowed upon a mere 2.5 percent of Illinois attorneys.
Hidden Assets And Business Bankruptcy Fraud
Business bankruptcy fraud usually involves larger assets. Many clients are surprised to learn they did not have to actually “own” an asset at the time of bankruptcy in order for it to be considered a “concealed asset.” For example, a debtor may transfer business assets to other family members or other outside parties at the time of bankruptcy. Although the debtor does not own the asset, he or she can still be charged with bankruptcy fraud.
Hidden assets through either fraud or fraudulent transfers are closely related to other charges including:
- Theft by fraud/embezzlement
- Identity theft
- Making false statements
- Credit card fraud
- Internet fraud
- Wire fraud
- Filing multiple bankruptcies in multiple states
We will do everything possible to successfully defend you against any criminal charges. In some cases, we can reduce charges to misdemeanors or even avoid charges altogether. The best way to achieve this is early intervention. Talk to us as soon as possible.