Friday, February 18, 2011

Commit Bankruptcy Fraud go to Prison

As of early last year, criminal charges had been filed in just 24 of the 1,611 cases referred for prosecution nationwide in 2009.

In 2006, authorities say, Richard Likane of Tampa got a mortgage after telling the lender he was making $12,324 a month as manager of an Italian restaurant.

But tax returns submitted in his 2008 bankruptcy case correctly stated that the only income he had in 2006 was $44.

After the FBI investigated those and other discrepancies between mortgage applications and Likane's bankruptcy filing, he was indicted last year on a charge of mail fraud affecting a financial institution — and faces up to 30 years in prison.

Are you listening South Florida?