U.S. Charges 78 With Bankruptcy Fraud

Published on:
8 December 2006 at 06:33 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00016731-us-charges-78-with-bankruptcy-fraud/

by Mike Bevel, CollectionIndustry.com

What do nine lawyers, a former police officer and an electrician who bribed a former governor have in common? They?re among 78 people charged with bankruptcy fraud in the past two months according to the Justice Department.

The group of bankruptcy scammers were caught as part of an operation dubbed ?Operation Truth or Consequences? — a nationwide crackdown on people trying to conceal more than $3 million in assets.

The arrests are on track to outpace last year’s estimated total of 100 bankruptcy fraud cases, the FBI has reported.