A 64 year old Houston man, James Maceo Ramey, was recently sentenced to 15 years in federal prison for 25 counts of fraudulent activity. Ramey was charged with bankruptcy fraud after an investigation proved he had filed 15 different bankruptcy cases in less than five years, all in different jurisdictions. Under Chapter 7 and Chapter 13 bankruptcy laws, an individual is prohibited from filing bankruptcy more than one time in an eight-year period, regardless of the jurisdictions.
During the period of Ramey’s bankruptcy scandal, he was conducting an Internet gold scheme as well. Ramey launched a website under a fake business name, “Manhattan Gold, Inc.” The website solicited the selling of numerous gold items, most in the form of coins, all of which, Ramey had no possession of or intent to actually distribute to consumers. During the gold scandal Ramey profited some $400,000, all of which he did not claim in any of the bankruptcy cases he filed.
After five days of deliberation, Ramey was convicted on all 25 counts. Eight of those counts were mail fraud, due to the Internet gold scheme. The other 17 counts were due to false oaths and declarations, concealment of assets, and conspiracy to commit bankruptcy fraud.
To read more on this story visit: http://7thspace.com/headlines/403574/internet_gold_scam_lands_houston_man_15_years_in_federal_prison.html
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. 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, P.A. website at www.miamibankruptcy.com.
You might also like
