A man recently pleaded not guilty to bankruptcy fraud
Tap to Call - (877) 250-8242

Man pleads not guilty in bankruptcy fraud case

By

October 19, 2010

 

Share this article

SHARE

Man pleads not guilty in bankruptcy fraud case

A California man recently pleaded not guilty to accusations that he committed fraud by hiding his assets from the IRS in his personal bankruptcy case, reports the Las Vegas Sun.

In September, James Dennis Territo was charged with bankruptcy fraud and concealment of assets, which are both felony offenses, in Las Vegas.

According to the recently filed indictment, Territo intentionally made false statements on his Chapter 7 personal bankruptcy filings.

Specifically, it is alleged that Territo claimed to only have $2,500 in assets in the bankruptcy filings but still controlled a corporate bank account at Nevada First Bank under the account name of Pacific Financial Services, Inc. that contained more than $100,000, reports the news source.

Prosecutors claim that Territo made the false statements in order to mislead the IRS.

Territo was released from custody on a personal recognizance bond after entering his not guilty plea before U.S. Magistrate Judge George Foley.

The news provider reports that Territo could receive five years in prison and a $250,000 fine if found guilty of the charges. 


Back to Newspaper Home


Tap to Call - (877) 250-8242

Copyright © 2017 MH Sub I, LLC. All rights reserved. ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.Your use of this website constitutes acceptance of the "Terms & Conditions", "Supplemental Terms", "Privacy Policy" and "Cookie Policy."