Anthony Faustini, Bankruptcy Fraud, Connecticut 2018

Anthony Faustini, a 57-year-old Bridgeport man, has admitted to lying under oath in a bankruptcy case, federal authorities announced.

According to the U.S. Attorney's Office, Faustini waived his right to be indicted and pleaded guilty on [unknown] to making a false statement under oath in a bankruptcy matter.

The crime occurred in 2018, when Faustini filed a personal Chapter 7 bankruptcy petition in the U.S. Bankruptcy Court for the District of Connecticut. In the petition, Faustini noted that his unpaid debts were approximately $86,862. However, he failed to disclose to the court that he knew he was the beneficiary of a $100,000 life insurance policy held against the life of his mother.

On March 21, 2018, Faustini's mother passed away. Nine days later, Faustini testified under oath regarding his bankruptcy petition. He falsely indicated that he had listed all items of value in his petition and failed to mention his vested interest in the $100,000 life insurance policy.

On June 26, 2018, the insurance company issued a check for $100,246 to Faustini. The Office of the U.S. Trustee for the District of Connecticut subsequently received information about the life insurance payment made to Faustini and conducted a 'Rule 2004' deposition examination of Faustini on June 5, 2019.

Faustini made several false statements during the examination, including that he had not known about the life insurance policy when he filed his bankruptcy petition, that he did not find out about the policy until he received the check, and that he did not know how the insurance company knew to send the check to his address.

Faustini faces a maximum term of imprisonment of five years and has agreed to pay restitution of $64,955. Judge Janet C. Hall scheduled sentencing for February 25, 2021. The case is being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.

Source: https://www.justice.gov/usao-ct/pr/bridgeport-man-pleads-guilty-bankruptcy-fraud-offense