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What are bankruptcy crimes? Do they exist?

April 26, 2017Bankruptcy crimes exist

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What are bankruptcy crimes? Do they exist?

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Yes. Criminal statutes related to bankruptcy can be found at 18 U.S.C. sections 151 to 157. Examples of bankruptcy crimes are knowingly and fraudulently concealing assets, lying under oath or on bankruptcy schedules, and knowingly and fraudulently filing a false proof of claim. Bankruptcy fraud can also be used to support a RICO claim. Bankruptcy crimes are often the result of claiming that you don’t own property that you do own or that has been transferred to conceal it from the Court.