Spring Hill Man Pleads Guilty To Bankruptcy Fraud
Tampa, Florida – United States Attorney A. Lee Bentley, III announces that John Franklin Coleman, III (46, Spring Hill) today pleaded guilty to bankruptcy fraud. He faces a maximum penalty of five years in federal prison. A sentencing date has not yet been set.
According to the plea agreement, from in or around 2009, through in or around 2012, Coleman worked as a manager and executive at American Mortgage Field Services, LLC (AMFS) and conducted inspections of residential and commercial properties, including distressed properties in various stages of sale and/or foreclosure. While acting as Vice President of AMFS, Coleman filed for relief under Chapter 7 of the Bankruptcy Code on or about May 3, 2011. Along with the petition, he filed schedules and statements, signed by him under penalty of perjury. Most notably, on the “statistical summary of certain liabilities and related data,” Coleman reported his average monthly income as $6,234.42. However, the investigation showed that he had requested to receive and had received much of his income from AMFS immediately before and during the bankruptcy via checks, rather than the automated payroll system. These payments were made out to Coleman and not included in the bankruptcy filings.
During the investigation, a former AMFS employee recalled that in or around late 2010, Coleman, who was working as AMFS’s Vice President at the time, began asking to receive half of his pay through the payroll company (ADP), and the other half through company checks that were made out to him personally. The purpose of this payment arrangement was to conceal Coleman’s true financial status.
This case was investigated by the Federal Housing Finance Agency and the U.S. Secret Service. It is being prosecuted by Assistant United States Attorney Mandy Riedel.