Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
What are you proposing to do here about your bankruptcy filing is illegal and may very well land you in jail. Concealment of your assets and then filing bankruptcy to declare that you do not have any assets and need to be released from your obligation to pay your debts may be considered fraudulent and you could be criminally prosecuted by US Department of Justice. Federal prosecutors can bring charges for suspected bankruptcy fraud under 18 U.S.C. § 157 Proof of fraud requires showing that the defendant knowingly and fraudulently made a misrepresentation of material fact. Bankruptcy fraud carries a sentence of up to five years in prison, or a fine of up to $250,000, or both. See 18 U.S.C. § 152.