Bankruptcy Fraud Lands Marshall County Man in Hot Water
Francis Tucker, of Moundsville, West Virginia, has been indicted on bankruptcy fraud charges, according to a statement released by the U.S. Attorney’s Office for the Northern District of West Virginia.
Tucker, 67, faces up to five years of incarceration and a fine of up to $250,000 for each of the three charges against him: “Fraudulent Transfers in Contemplation of Bankruptcy,” “False Bankruptcy Declarations,” and “Structuring Financial Transactions to Evade Reporting Requirements.”
The indictment alleges that Tucker transferred personal and business properties to others in the months leading up to his bankruptcy filing in July 2018 in Ohio County. He is accused of falsifying the bankruptcy documents by claiming that he had not been involved in reportable property transfers and had no connections to a business.
Tucker’s troubles began in January 2018, when the Circuit Court of Ohio County granted a civil judgment against him in the amount of approximately $469,000. The indictment also alleges that Tucker conducted withdrawals of proceeds from the sale of a property in Florida in 2016 in a manner and with the intent to avoid bank reporting requirements regarding certain cash transactions.
The case is being prosecuted by Assistant U.S. Attorneys Danae DeMasi-Lemon and Jarod J. Douglas, with the FBI investigating. Tucker’s indictment serves as a reminder of the importance of honesty in financial dealings and the consequences of attempting to deceive the system.
An indictment is merely an accusation. A defendant is presumed innocent unless and until proven guilty.
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Key Facts
- State: West Virginia
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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