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Justice News

Department of Justice
U.S. Attorney’s Office
Eastern District of Kentucky

FOR IMMEDIATE RELEASE
Friday, January 24, 2020

Fort Mitchell Man Pleads Guilty to Bankruptcy Fraud

COVINGTON, Ky. - A Fort Mitchell, Kentucky man, Joseph Shockey, 53, pleaded guilty to bank fraud in federal court Friday, before U.S. District Court Danny C. Reeves.          

In his guilty plea agreement, Shockey admitted to applying for and receiving a one-year line of credit for from Stock Yards Bank and Trust Company. Prior to receiving the line credit, Shockey executed loan documents and personally guaranteed the line of credit, failing to inform the bank that a default judgment had been entered against him in Salt Lake County, Utah and that he was liable for a judgment $579,428, plus interest. This material omission led the bank to extend the line of credit to him, ultimately resulting in a loss to Stock Yards Bank and Trust.  Shockey will be required to repay $449,496.07.

Shockey was indicted in October 2019.

Robert M. Duncan, Jr., United States Attorney for the Eastern District of Kentucky, and James Robert Brown, Jr., Special Agent in Charge, Federal Bureau of Investigation, jointly announced the guilty plea.

The investigation was conducted by the FBI. The U.S. Attorney’s Office was represented by Assistant U.S. Attorney Elaine Leonhard. 

Shockey is scheduled to be sentenced on April 29, 2020. He faces up to 30 years in prison and a maximum fine of $1,000,000. However, any sentence will be imposed by the Court after its consideration of the U.S. Sentencing Guidelines and the federal sentencing statutes. 

The year 2020 marks the 150th anniversary of the Department of Justice. Learn more about the history of our agency at www.Justice.gov/Celebrating150Years.

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Topic(s): 
Bankruptcy
Contact: 
CONTACT: Gabrielle Dudgeon PHONE: (859) 685-4887 E-MAIL: gabrielle.dudgeon@usdoj.gov
Updated January 24, 2020