Posts Tagged: ‘Concealment of Assets’

Baseball Legend Lenny Dykstra Faces 20 Years in Jail for Bankruptcy Fraud Charges

July 25, 2012 Posted by kingcade

Former New York Mets and Philadelphia Phillies outfielder Lenny Dykstra pleaded guilty to bankruptcy fraud, concealment of assets and money laundering on July 13, 2012. The former All-Star could be facing up to 20 years in jail and fines of up to $750,000 if convicted.

Dykstra filed for bankruptcy in 2009 after claiming his assets were worth only $50,000, while he owed more than $31 million on his home. Prosecutors claim that after Dykstra filed for bankruptcy he proceeded to sell or destroy items such as baseball memorabilia worth more than $400,000.

U.S. District Judge Dean Pregerson asked Dykstra if he was guilty of the crimes and Dykstra answered, “Yes, your honor.” U.S. Attorney Andre Birotte Jr. said he hoped Dykstra’s story will be a warning to other sports figures who try to ‘manipulate and exploit’ the law.

To read more on this story: http://timesleader.com/stories/Baseball-great-pleads-guilty-to-bankruptcy-fraud,175733

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