If your bankruptcy trustee believes that you intentionally tried to hide an asset from the court, then it is possible that criminal charges can be filed against you.
This is rare, but the more valuable the undisclosed asset is, the more suspicious it looks.
Upon discovering that you’ve omitted an asset in your filing, you should immediately provide the bankruptcy court with a corrected filing.
If you disclose the asset before the trustee finds it, you’re probably safe from any negative consequences.
If you wait and hope that the trustee doesn’t notice unexplained accounts, payments, or revenue, you may find yourself in a very difficult situation.
If you are facing Bankruptcy Fraud charges, act quickly to get capable help from experienced attorneys who know the bankruptcy system and defend clients in Federal court.
Penalties for Bankruptcy Fraud can be up to five years in Federal prison, with fines totalling half a million dollars.
Protect yourself from Bankruptcy Fraud charges.
Call the experienced Bankruptcy Fraud attorneys at Joseph Potashnik & Associates today at (212) 577-6677.