Bankruptcy Fraud Attorneys
When someone is forced to consider bankruptcy as a way to get a fresh start, they’re already facing a tremendous amount of pressure and stress. As a result, it’s not at all uncommon for mistakes to crop up when someone is filing for bankruptcy or company liquidation. These simple mistakes can sometimes lead to legal penalties, both civil and criminal for bankruptcy fraud.
As you can imagine, someone facing criminal charges of bankruptcy fraud needs to know that the attorneys they’ve chosen to represent them have the experience and skill necessary to effect the best possible outcome for them. They’ll need a hands-on approach and a firm that has a proven track record, a firm like the Norman Spencer Law Group.
What is Bankruptcy Fraud?
There are a few different actions that can lead to criminal charges of bankruptcy fraud, but one of the most common has to do with willful misrepresentation of facts in documents that are officially submitted while filing for liquidation of a company. The important word to note there is “willful,” which ties into just how common it is for honest mistakes to be made during the liquidation process. It has to be proven that these were not mistakes but instead intentional misrepresentations of facts.
There’s much documentation involved in the process of company liquidation, including schedules, statements, petitions, all of which must be submitted under the penalty of perjury. Another very common way for individuals to be charged with bankruptcy fraud is through submitting false testimonies about the debtor’s financial situation, and this usually involves skewing the facts while meeting with creditors.
Concealing Property of the Estate
Yet another type of bankruptcy fraud has to do with concealing property of the estate. Typically, this is when someone either conceals the property or transfers and hides it while they’re going through with liquidation. This is done to defraud shareholders, the government, or any other parties involved in the liquidation.
Who Can Be Charged with Bankruptcy Fraud?
As you might expect, individuals who directly engage in any of the previously mentioned actions can be criminally charged with bankruptcy fraud. With that said, others can be charged as well. For instance, third parties like shareholders in the company can also be charged if found to be involved or aware in some way. The penalties for this can be civil or criminal, at either the federal or state level or both.
Another thing to keep in mind is just how far-reaching these charges can be. The Federal Bankruptcy Rule of 2004, allows for what has been termed as “fishing expeditions.” Essentially, what this means is that courts have the freedom to investigate any entity that they believe might be involved. This can also be done at the request of anyone who might be involved, which is the reason for the fishing expedition term. Thanks to this rule, authorities can basically “go fishing” for more involved parties during the course of their investigation.
What Can Be Done?
Under Title 18, and specifically under Chapter 9 Bankruptcy, there are a variety of penalties that can be levied if fraud is found, and these can be both civil and criminal in nature. While the investigation is going on, a variety of professionals will be brought on board, such as appraisers, accountants, and brokers, all of them tasked with verifying claims and generally examining everything to determine if bankruptcy fraud was committed.
Without a proper defense team on your side, you can find yourself liable for a slew of penalties, including hefty fines or even years in prison. When you consider also that white-collar crimes in general and crimes involving defrauding a financial institution specifically are typically prosecuted very aggressively as a deterrent to others who might engage in the same behavior, being criminally charged with any form of bankruptcy fraud can be devastating. But that doesn’t mean it has to be.
Why Choose Norman Spencer Law Group for Bankruptcy Fraud?
When you are facing criminal charges of bankruptcy fraud, the last thing you need is a firm or defense attorney that doesn’t have the experience or skill to properly and intelligently defend your case. Given the harsh penalties for bankruptcy fraud and the federal jurisdiction that’s involved, you need to go with a firm that has a wealth of experience defending cases just like yours. That’s why you need the Norman Spencer Law Group.
At Norman Spencer, we believe that every client deserves 1:1 service, and we deliver on that belief. Along with providing accessibility options like remote consultations set up through Zoom, Skype, and Google Duo, we’re also available 24/7 and can even travel to you if necessary. We represent a variety of cases both simple and complex, small and large, here in New York and around the nation.
No case is too small or large, and we leverage the over 70 years of combined experience that we have as a law firm to fight for you. It’s not enough to go with the first firm or lawyer that you come across. If they don’t have a depth of knowledge in federal bankruptcy fraud criminal charges, then you’ll only be wasting your time and money. It’s far better to find a firm that can get you results and fight any civil or legal penalties that you might be facing.
Your future is far too important to leave up to chance. When you go with a firm like the Norman Spencer Law Group, you’re going with folks who have a vested interest in your success as well as the resources to make that a reality. The process is as simple as getting in touch at your earliest convenience, telling us a bit about your specific situation, and providing us with contact information so that we can get back to you as soon as possible. Our experienced team of defense attorneys will take it from there.