A 55 year old woman from Barron, Wis., has been charged with bankruptcy fraud. The indictment alleged that in December 2008, she concealed $18,977 in U.S. currency. The indictment also charged her with making material false declaration in a bankruptcy proceeding, by stating that she had only $100 cash on hand and fraudulently omitting a $12,000 transfer of U.S. currency to relatives and a $3,650 payment to a creditor. She is also charged with falsely testifying under oath in a bankruptcy proceeding on February 3, 2009, about the concealed currency and the transfer of currency to relatives.
If convicted, Cynthia Barlow faces a maximum penalty of five years in federal prison on each count. The charges against her are the result of an investigation by the FBI. If you are considering filing bankruptcy, do not attempt to hide money or assets. This can include transferring money to a family member or opening a hidden bank account to conceal funds. Do not attempt to hide or destroy property from a creditor. These actions can greatly affect the outcome of your case and land you in jail.
