Missouri Couple Faces Bankruptcy Fraud Charges

by San Antonio Attorney

A couple from Missouri has been charged with bankruptcy fraud for concealing assets and making false statements in their bankruptcy petition.

Mung Nguyen, 53, and David Nguyen, 60, are residents of O’Fallon, Missouri, who sought for bankruptcy protection in March 2015, yet bought expensive home furnishings and goods, clothing, jewelry and bags while they prepared for the filing, the U.S. Attorney’s Office for the Eastern District of Missouri said.

Furthermore, the pair withdrew over $25,000 in cash from their credit cards, as stated in court documents.  Prosecutors said they did not list these items, which were valued around $100,000, in their bankruptcy petition.

The U.S.  Attorney’s Office also found out that David Nguyen received insurance payments for damages of his 2011 Mercedes, but did not use it to fix the vehicle.  Nguyen did not notify the trustee about the insurance claim.

Mung and David Nguyen were individually charged with bankruptcy fraud, for failing to disclose some of their assets.  A court hearing was scheduled on Aug.  5.

The punishment for bankruptcy fraud is a maximum of five years jail time and as much as $250,000 in fines.

Sometimes, bankruptcy fraud may not intentional but the consequences are serious.   To make sure that you avoid this mistake, you should consult a San Antonio Lawyer who handles bankruptcy cases.  Working with a legal professional who is knowledgeable with state bankruptcy laws and the dealings of the bankruptcy court can be very valuable in steering clear of mishaps that could derail or delay a case.

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