Attorney indicted on bankruptcy case - Bills.com News

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Attorney indicted on bankruptcy case

Wednesday, Nov 11, 2009
By Lucy Sanderson

Recently, an attorney in West Virginia was indicted on fraud charges related to a bankruptcy case.

According to the West Virginia Record , Patrick B. Anderson was indicted on two felony charges, one of which involved bankruptcy fraud. The other charge related to the "fraudulent transfer and concealment of assets," the Record reported.

Anderson allegedly transferred ownership of a property from a couple that was declaring bankruptcy to their daughter in orderto keep it safe from creditors. The Record reported that court records show the couple was not aware of the alleged plan and told authorities when they found out about it.

"In early 2007, the indictment alleges Anderson was approached by the couple to file for bankruptcy," the story from the Record stated. "Specifically, the couple wanted to file for Chapter 7."

Chapter 7 bankruptcy involves the liquidation of all of the debtor's non-exempted property, with payments distributed among creditors.
Bankruptcy regulations passed in October 2005 make it more difficult for consumers to file for Chapter 7. Instead, many are required to file for Chapter 13 bankruptcy.

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