Boise Man Pleads Guilty To Bankruptcy Fraud For Concealing Interest In Business
BOISE – Steven Gregory, 66, of Boise, pleaded guilty today in United States District Court to one count of bankruptcy fraud by asset concealment, U.S. Attorney Wendy J. Olson announced. Gregory’s sentencing is scheduled for January 7, 2015, before Chief U.S. District Judge B. Lynn Winmill.
According to the plea agreement, Gregory filed bankruptcy in 2010 and during that bankruptcy proceeding, knowingly and fraudulently concealed a five percent ownership interest in a company. During the pendency of the bankruptcy case, Gregory demanded, and received, a payout of that interest in the amount of $330,464.19. However, Gregory failed to disclose both the ownership interest and the payment in his filed bankruptcy schedules and statements. Gregory intentionally and fraudulently concealed the interest and the payment from the Bankruptcy Court, the trustee, and his creditors.
A violation of bankruptcy fraud concealment is punishable by a term of imprisonment of up to five years, a term of supervised release of not more than three years, a maximum fine of $250,000, and a special assessment of $100. The Court also may order restitution to the victims of the crime.
The case was investigated by the Internal Revenue Service.