Terry Resident Charged with Bankruptcy Fraud
Jackson, Miss – Kenneth Bowman, Jr., 62, of Terry, Mississippi, has been charged in a federal indictment with three counts of bankruptcy fraud, announced U. S. Attorney Gregory K. Davis, Acting U. S. Trustee Henry G. Hobbs, Jr. of Region 5, and FBI Special Agent in Charge Donald Alway.
According to the indictment, Bowman, as the officer and representative of Piggly Wiggly of Crystal Springs, Inc., a debtor in Chapter 11 bankruptcy in the Southern District of Mississippi, embezzled approximately $101,733.55 from the bankruptcy estate. Bowman appropriated to his own use estate funds belonging to the debtor, specifically making checks payable to himself, and reducing assets available to creditors. If convicted, Bowman faces a maximum penalty of fifteen years in prison.
Bowman was arraigned before U.S. Magistrate Judge F. Keith Ball in Jackson today. He is scheduled for trial before U.S. District Judge Tom S. Lee on June 6, 2016.
The Office of the U. S. Trustee and the U.S. Bankruptcy Court for the Southern District of Mississippi referred the matter to the U. S. Attorney for prosecution. The Federal Bureau of Investigation and the U.S. Trustee assisted in the investigation and indictment of Bowman.
The public is reminded that an indictment is a formal charge that a defendant has committed a violation of the federal criminal laws. All defendants are presumed innocent unless and until proven guilty.