January 24, 2010

Disclose, Disclose, Disclose: Bankruptcy Crimes and Availability of Bankruptcy Papers to Law Enforcement Officials

A person who knowingly and fraudulently conceals assets or makes a false oath or statement under penalty of perjury, either orally or in writing, in connection with a bankruptcy case is subject to a fine, imprisonment, or both. All information supplied by a debtor in connection with a bankruptcy case is subject to examination by the Attorney General acting through the Office of the United States Trustee, the Office of the United States Attorney, and other components and employees of the Department of Justice.

If you are going to file bankruptcy, make sure you diligently list all your assets, debts, credtiors, and property transfers. If you have a question about whether something needs to be listed, ask your attorney. It is better to say too much than not enough.