Individuals in Long Beach are allowed to file for bankruptcy if they owe more money than they can possibly repay. The U.S. Bankruptcy Code is very complex, including three different ways to file a bankruptcy claim under:
- Chapter 7
- Chapter 11
- Chapter 13
You can face criminal charges for engaging in any kind of fraud during the bankruptcy process. Bankruptcy fraud is handled in federal court. You can get help handling these charges by contacting the Simmrin Law Group today.
Let our team of bankruptcy fraud lawyers in Long Beach start working on your defense now.
Ways People Commit Bankruptcy Fraud in Long Beach
Both individuals and businesses can file for bankruptcy in the U.S. You must file a petition to the U.S. Bankruptcy Court to begin the bankruptcy process. You must report full and accurate financial information as part of this petition, including data about your:
Bankruptcy fraud can take place if you report false financial information in any way during the bankruptcy proceedings. Examples of actions that can lead to a bankruptcy fraud charge include:
- Purposefully Concealing Your Assets
- Destroying Records or Paperwork
- Making Any Type of False Claim
- Lying in a Sworn Statement
- Filing Documents that are Fraudulent
Note that you must be acting intentionally to be convicted of bankruptcy fraud in the U.S. The court must prove that you planned to commit fraud and then carried out your plan to gain some kind of financial benefit.
The Reason Bankruptcy Fraud is a Federal Crime
Generally, bankruptcy fraud does not cause any physical harm to other people. It is financially motivated and, in many cases, committed by business people. This classifies bankruptcy fraud as a kind of white-collar crime in California.
Many white collar crimes are handled exclusively by the federal court system. Generally, the federal court system will take care of crimes tied to the U.S. banking system or crimes that occur across state lines.
Bankruptcy fraud is tied closely to the banking system, giving the federal court system jurisdiction. Federal prosecutors are highly trained and used to getting convictions. For this reason, it is very important that you get professional help from a criminal defense lawyer in Long Beach as soon as you are charged with bankruptcy fraud.
Penalties for a Bankruptcy Fraud Conviction
Bankruptcy fraud is a federal crime that can come with incredibly harsh consequences. A bankruptcy fraud conviction in Long Beach can lead to:
- Prison Time: Up to 5 Years
- Fines: Up to $250,000
Individuals who are convicted of bankruptcy fraud will also have their bankruptcy filing thrown out. This means that you will remain liable for the debts you were trying to discharge. The court can even liquidate your assets to pay off creditors in this case.
These harsh penalties can impact you for the rest of your life, leaving you with heavy debt even after you’ve served your prison sentence. You can increase your odds of beating a bankruptcy fraud charge by contacting a federal crimes lawyer in Long Beach today.
We Can Defend You against Bankruptcy Fraud Charges
The complicated nature of the U.S. Bankruptcy Code makes it difficult to handle bankruptcy the right way. Many people are accused of bankruptcy fraud when they were trying to follow all the rules and regulations set down in the code.
You must intend to commit bankruptcy fraud in order to be convicted in Long Beach. Our team of bankruptcy fraud lawyers can work to prove that any issues with your claim were accidental in many cases.
We may also be able to protect you by showing that the prosecution does not have sufficient evidence to prove that bankruptcy fraud occurred. This can allow us to beat the charges you are facing.
It is important that you get help immediately if you are charged with bankruptcy fraud. It takes time to build a strong defense. Let our team of bankruptcy fraud lawyers start working on your case now.
You Can Call Our Long Beach Bankruptcy Fraud Lawyers Today
Bankruptcy fraud is a serious federal charge. A conviction can lead to jail time and hundreds of thousands of dollars in fines. You can get help building a defense by contacting the Simmrin Law Group today. We’ll work to defend you relentlessly from accusations of bankruptcy fraud. Get a FREE case evaluation from our bankruptcy fraud lawyers in Long Beach right now.
You can get the help you need to handle federal charges right here in Long Beach by completing our online contact form or calling (310) 997-4688.