Stamp Farms Employee Sentenced For Role In Conspiracy

          GRAND RAPIDS, MICHIGAN — U.S. Attorney Patrick A. Miles announced that Larry Thomas Stambeck was sentenced today for his role in the concealment of Stamp Farms’ assets that should have been disclosed in a bankruptcy case. U.S. District Court Judge Robert Holmes Bell noted that Stambeck had no prior criminal history before sentencing him to pay a $10,000 fine. Stambeck had earlier re-paid over $20,000 to a bankruptcy court trustee, which money represented Stamp Farms’ crops that had been improperly sent to the Hamilton Elevator by Michael D. Stamp in the fall of 2012.

          Melissa Stamp, the wife of Michael D. Stamp, was already sentenced and she is expected to surrender to the U.S. Bureau of Prisons in early October to begin serving a twenty-one month term of incarceration for her role in the bankruptcy fraud. She admitted hiding approximately $200,000 of bankruptcy assets with family members. Two additional former Stamp Farms employees face sentencing for their role in the bankruptcy fraud on October 6, 2015.

          These convictions and sentences are part of the continuing investigation into transactions and bankruptcy proceedings involving the business formerly known as Stamp Farms.

          "Our bankruptcy structure is in place to provide some measure of protection for those experiencing extreme financial distress. Individuals that abuse this process by concealing assets, threaten its overall integrity. The IRS will continue to work with the U.S. Attorney’s Office and our other law enforcement partners to ensure the public’s continued confidence is maintained," said Jarod J. Koopman, Special Agent in Charge, IRS Criminal Investigation.

          This case is being investigated by the U.S. Bankruptcy Trustee’s Office, IRS Criminal Investigation, U.S. Secret Service, and the USDA Office of Inspector General. Assistant U.S. Attorneys Michael A. MacDonald and Clay Stiffler are prosecuting the case.

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