Spongetech Delivery Systems, Inc. (fka SPNGQ)

[puppydotcom]

I wonder if the feds will go after mosky for filing a false federal Bankruptcy form

gulp!

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So What IS a Crime?

Most types of bankruptcy crimes are contained in two federal statutes, one entitled "Concealment of assets; false oaths and claims; bribery," and the other “Bankruptcy fraud.”

Together these include a long list of criminal behavior, but the following four are the most common:

(1) intentionally concealing assets from a trustee or other officer of the bankruptcy court,

(2) making a false oath related to a bankruptcy case,

(3) making a false declaration or statement under penalty of perjury in a bankruptcy case, and

(4) devising a scheme to defraud by:

(a) filing a fraudulent bankruptcy petition,

(b) filing any other document in a bankruptcy proceeding, or

(c) making a false or fraudulent representation, claim, or promise related to a real or false bankruptcy proceeding, at any time before or after the filing of the petition.



In the U.S.Trustee’s audit mentioned above, the most common allegations involved false oaths or statements (in 42% of the referrals), concealment of assets (32%), bankruptcy fraud schemes (20%), tax fraud (20%), and identity theft or use of false/multiple Social Security numbers (20%).



In addition to the crimes listed above committed by those filing bankruptcy, a number of other bankruptcy crimes refer to the criminal behavior of other people. For example:

(1) a creditor filing a false proof of claim in a bankruptcy case,

(2) a person wrongfully receiving property from a debtor after a bankruptcy case’s filing,

(3) someone receiving a bribe related to a bankruptcy case,

(4) transfers, destruction, withholding or concealment of debtor’s assets and/or records by debtors’ agents, or anyone else related and unrelated to the debtor, before or after the filing of a bankruptcy case.


Criminal Penalty

The punishment for the above bankruptcy crimes is up to five years in prison AND a maximum fine of $250,000 for individuals and $500,000 for corporations. But the actual sentences are based on factors listed in sentencing guidelines, such as the amount of losses suffered by any victims, whether any court orders were obstructed, whether the person abused a position of trust, and whether he or she cooperated with or hampered the investigation. Also note that bankruptcy crimes tend to be committed in combination with other kinds of criminal activity, so the combined punishment can be much more.

http://www.orbankruptcy.com/blog/what-are-bankruptcy-crimes