Read about the criminal charges of a couple from Palm Beach.
Although bankruptcy is an uncomfortable process to go through, has given many people a fresh at finances. One of the key points in being given financial freedom is that you must be completely honest during the bankruptcy process. In fact, one couple in Palm Beach is now facing criminal charges for trying to conceal valuable goods from the bankruptcy court. In 2008 the couple tried to snuff out $2.9 million in a Chapter 7 case. But, they only claimed $13,000 in assets.
However, when the courts did their investigation a two-carat gold wedding ring, and platinum hoop earrings with diamonds; a silver bangle, a Swiss army watch, and high-end silverware set among other things. Their documents did not divulge any of these. Once the court found out of their fraudulent activity their bankruptcy was discharged. Furthermore, they were charged with a fine of $250,000 and up to five years in prison.
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