Former Tinley Park Man Charged With Bankruptcy Fraud For Concealing Seven Luxury Cars Worth $294,000
CHICAGO — A former Tinley Park resident was charged by information today with concealing his ownership of seven luxury cars during his 2012 bankruptcy proceeding. The charges allege that JOSEPH W. CAMPBELL, 49, concealed cars having a total value of approximately $294,000, including a Lamborghini worth $122,000, a 1966 Chevrolet Corvette, a 1971 Chevrolet Corvette, a 1978 Pontiac Firebird Trans Am, a 1981 DeLorean, a 1989 Pontiac Firebird Trans Am, and a 1997 Dodge Viper. Campbell will be arraigned at a later date in U.S. District Court.
According to the information filed in court, Campbell concealed his ownership of the luxury cars from his creditors, the bankruptcy court, and the trustee in his bankruptcy case by failing to disclose them in his bankruptcy petition. He is also charged with lying under oath about his ownership of the cars in testimony he provided during a creditors’ meeting, a discovery deposition, and a bankruptcy court hearing.
The crimes of bankruptcy fraud and making false statements during a bankruptcy proceeding each carry a maximum penalty of 5 years in prison and a $250,000 fine, or an alternate fine totaling twice the loss or twice the gain, whichever is greater. If convicted, the Court must impose a reasonable sentence under federal statutes and the advisory United States Sentencing Guidelines.
The charges were announced by Zachary T. Fardon, United States Attorney for the Northern District of Illinois, Robert J. Holley, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation, and Patrick Layng, United States Trustee for the Northern District of Illinois.
The government is being represented by Assistant U.S. Attorney Jacqueline Stern.
The public is reminded that an information contains only charges and is not evidence of guilt. The defendant is presumed innocent and is entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.