Terry Resident Pleads Guilty to Bankruptcy Fraud
Jackson, Miss - Kenneth Bowman, Jr., 63, of Terry, Mississippi, pled guilty on September 13, 2016, before U.S. District Judge Tom S. Lee, to one count 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.
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 cash and using the cash to satisfy his personal debts, and reducing assets available to creditors.
Bowman will be sentenced on December 15, 2016 at 9:00 a.m. by U.S. District Judge Tom S. Lee and faces a maximum penalty of five years in prison and a $250,000 fine.
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 case was investigated by the FBI and the U.S. Trustee. It was prosecuted by Assistant U.S. Attorney Mary Helen Wall and Trial Attorney Sammye S. Tharp with the Office of the U.S. Trustee.