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Posted On: November 1, 2010 by Scott Sagaria

Bankruptcy Fraud Penalties

A San Jose bankruptcy attorney describes the consequences of bankruptcy fraud.

One of the worst crimes that a person in the United States can do is defraud the government. One area that fraud happens is in bankruptcy proceedings. Bankruptcy fraud happens all of the time and bankruptcy fraud penalties vary from case to case.

Bankruptcy fraud is committed when an individual or business files for bankruptcy and intentionally hides, conceals, or lies about the ownership of items in their possession. The government can liquidate assets in bankruptcy proceedings and if information is being held back, it hurts the creditors and it hurts the public as a whole.

The Internal Revenue Service and The Justice Department are the ones who are in charge of prosecuting bankruptcy fraud. Some of the penalties that arise from bankruptcy fraud are jail time, significant fines and fees, and restitution. Depending on the judge, both jail time and the fees and restitution can be levied or it can be just payment of fines and restitution and not having a criminal court case. Bankruptcy fraud penalties all hinge on who exactly is presiding of the case.

At Sagaria Law, we offer an exceptional team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff supporting San Jose. If you need help regarding bankruptcy in San Jose, contact us at 408.279.2288 or 1800.941.6730 for a free consultation or visit us online at www.sagarialaw.com to request a free in person appointment at a Sagaria Law office location nearest you. We can answer your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation to quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose!

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Posted In: Bankruptcy Fraud

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