McHenry County Man Pleads Guilty To Making A False Declaration In Bankruptcy Case

ROCKFORD — A Wonder Lake, Ill. man pleaded guilty today in federal court before U.S. District Judge Frederick J. Kapala to one count of making a false declaration under penalty of perjury in a bankruptcy case filed in the United States Bankruptcy Court in Rockford. JAMES GROSSMAYER, 51, filed a Chapter 7 Bankruptcy Petition on September 19, 2008. As he admitted in his Plea Agreement, Grossmayer also filed a Schedule B listing his personal property on which he intentionally omitted his ownership interest in a New York Life Annuity. Grossmayer further admitted he signed his bankruptcy schedules under penalty of perjury, knowing that Schedule B was false, and that his interest in the annuity at that time was approximately $25,000.

The charge in this case carries a maximum penalty of 5 years’ imprisonment, and a fine of up to $250,000, or twice the gross gain or gross loss resulting from that offense, whichever is greater. The judge may also impose a sentence of probation of one to five years, and a term of supervised release of up to three years. The actual sentence will be determined by the United States District Court, guided by the Sentencing Guidelines. Grossmayer is scheduled to be sentenced on December 5, 2013, at 9:30 a.m.

The guilty plea was announced by Gary S. Shapiro, United States Attorney for the Northern District of Illinois, and Robert J. Shields, Jr., Acting Special Agent-in-Charge of the Chicago Office of Federal Bureau of Investigation.

The government was represented by Assistant U.S. Attorney Michael D. Love.