Illinois Couple Pleads Guilty to Bankruptcy Fraud

Written by CFB Blogger. Posted in Blog

Mr. and Mrs. Gary McGill, of Eldorado, Illinois, have recently pleaded guilty to bankruptcy fraud. Lucy J. McGill pleaded guilty to two counts of making false statements under penalty of perjury in a bankruptcy case, three counts of making false statements under oath in a bankruptcy case and one count of falsifying records in a bankruptcy case. Her husband, Gary G. McGill, pleaded guilty to two counts of making false statements under penalty of perjury in a bankruptcy case and two counts of making false statements under oath in a bankruptcy case. According to an article on www.kfvs12.com by Amber Ruch, Mr. and Mrs. McGill filed a Chapter 7 bankruptcy case in February 2009 in U.S. Bankruptcy Court in Benton, Illinois. The McGills admitted that they lied on a Statement of Financial Affairs, falsely stating that $22,000 in two accounts in Lucy McGill’s name at SIU Credit Union belonged to Lucy McGill’s sister. That $22,000 had, however, been paid to Mr. McGill in the settlement of two lawsuits. Lucy and Gary McGill also stated that they lied on their Statement of Financial Affairs in concealing that they had recently given their son cash in the amount of $6,800. “Lucy McGill also admitted that she created fake receipts, purportedly showing that the cash in the SIU Credit Union accounts belonged to her sister, and then provided those receipts to the attorney administering her bankruptcy case,” the news story continued. Federal law requires that debtors who file for bankruptcy must disclose all of their assets. In addition, debtors are required to disclose certain financial transactions that they conducted before filing bankruptcy. The purpose of these disclosures is to ensure that all available funds can be collected to pay the creditors as much as possible on the amounts they are owed. Each count of bankruptcy fraud is punishable by not more than five years’ imprisonment, and/or a $250,000 find, and not more than three years of supervised release. The actual sentence will be determined by the court and will be guided by the U.S. Sentencing Guidelines. Bankruptcy fraud is a federal crime.  The attorneys at Client First Bankruptcy take their obligation seriously.  Our attorneys approach each case with care and precision and we request relevant documentation to be able to protect its clients from allegations like these.  Don’t go to less experienced or less careful attorneys who try to sell you on ‘fast relief’ or ‘speedy filings’.  Haste often leads to bigger problems than those that caused the client to seek representation in the first place. The Client First Bankruptcy attorneys are among the most knowledgeable consumer bankruptcy attorneys in the country, representing thousands of clients in consumer bankruptcy cases. Call us toll-free at 800-383-6004 Monday thru Friday from 8:30 a.m.-6:00 p.m. Central Time. You can also log onto our easy-to-navigate, interactive website at www.clientfirstbankruptcy.com 24/7 for timely and accurate information on filing your Chapter 7 or Chapter 13 bankruptcy.