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What Is Considered Bankruptcy Fraud Under Federal Law?

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Oftentimes, people will rack up a significant amount of debt prior to declaring bankruptcy, or else lie about certain details related to bankruptcy in order to gain an advantage; those who do this are at risk of being pursued by the federal government for federal bankruptcy fraud. Bankruptcy laws are designed to help people who find themselves overwhelmed by debt and with no choice but to file bankruptcy—not for people who want to take advantage of the system. If someone is being investigated for or charged with federal bankruptcy fraud, they should obtain an attorney who can guide them through the process.

What Are The Typical Penalties For A Federal Bankruptcy Fraud Conviction?

The penalties for a federal bankruptcy fraud conviction are going to be determined by the amount of loss involved. Some of the loss may be legitimate, while some may not; this information, in addition to information related to the defendant’s criminal history, will be used by the judge, prosecutor, and probation department in determining the appropriate sentence.

For more information on Bankruptcy Fraud Charges Under Federal Law, a free initial consultation is your best step. Get the information and legal answers you are seeking by calling (213) 542-0994 today.

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