By: Gerri Elder
November 08, 2010
Gene Paul Boyd, the former treasurer of Leawood, Missouri, recently filed for Chapter 7 bankruptcy protection.
According to the Joplin Globe, Boyd was recently found guilty of stealing more than $376,000 from the Leawood. He was previously sentenced to 15 years in prison for the charge, but was placed on one-year probation in order to make the restitution payment to the village.
Newton County authorities reportedly found that the money had been stolen between 2002 and 2008, and that an additional $673,534 in village funds remained unaccounted for, according to the news source.
Boyd's personal bankruptcy petition lists $175,000 in assets and $220,000 in liabilities, excluding the restitution payments he owes to Leawood.
The news provider reports that the Newton County Prosecutor said that Boyd's bankruptcy petition does not excuse him from his criminal restitution order.
According to the American Bankruptcy Institute, consumer bankruptcy filings totaled 132,173 nationwide in October 2010.