Chicago Bankruptcy Scam to Free Impounded Vehicles

April 29, 2013 Posted by kingcade

A Chicago man was arrested last week for soliciting payoffs from drivers whose vehicles had been impounded by the city. Daniel Rankins was allegedly approaching people whose vehicle had been impounded by the city and offering to help them get their vehicle back for a fraction of the price. Rankins would file phony bankruptcy petitions, which placed an automatic hold on fines and released the vehicle. A spike in the number of motorists claiming bankruptcy to circumvent the process raised questions among city officials. Soon after, the FBI began investigating the scam.

Since May of last year, more than 1,000 bankruptcy cases had been filed with the Revenue Department and the city’s auto pounds as the only listed creditors. An individual at the Revenue Department Office approached an undercover officer posing as a motorist, whose car had been impounded. The individual put him in touch with Rankins, who provided him with bankruptcy paperwork that was already completed except for personal and vehicle information. After the paperwork was complete, Rankins drove the officer to federal bankruptcy court to file. The officer later paid Rankins $600 for his services. Rankins told authorities he learned of the scam when his own car was impounded a few months prior. After Rankins recovered his own vehicle, he began working with the other two individuals to recruit motorists with impounded cars.

Click here to read more on the Chicago Bankruptcy Scam to Free Impounded Vehicles.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at

Comments are closed.