MADISON, WIS. – Bernard Seidling, 74, of Hayward, Wisconsin, was yesterday sentenced to seven years in federal prison and ordered to pay a $500,000 fine for bankruptcy fraud and criminal contempt of court.
Seidling was convicted following a four-day trial in Madison. U.S. Attorney O’Shea called Seidling a ‘recurring and shameless financial predator,’ thanking the U.S. Trustee’s Office, FBI, Wisconsin DOJ, and U.S. Postal Inspectors for their efforts.
Seidling filed for bankruptcy in 2022 but concealed approximately $20 million in assets through sham trusts and partnerships. He sold a waterfront home for over $3 million while claiming he had only $195 in his bank account.
The case was converted from reorganization to liquidation, leading Seidling to falsely claim incapacitation due to health issues. Despite this, he continued managing businesses and conducting banking activities, including hiding over $1 million in cash under his house.
Seidling violated a bankruptcy court order by transferring real estate and draining bank accounts. He also used someone else to transfer property, revealing a pattern of manipulation and deceit.
Judge Peterson highlighted the defendant’s systematic dishonesty, noting previous convictions for interference with commerce and mail fraud. The judge concluded that Seidling posed a danger to reoffend and was a threat to public trust.
Related Federal Cases
- Bernard Seidling Sentenced to 7 Years for Bankruptcy Fraud in Wisconsin · Wisconsin
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- Tomeki L. Tyson Indicted on 21 Counts of Tax Fraud · Wisconsin
- Howard Webber Convicted in $600K Prisoner Tax Fraud Scheme · Wisconsin
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Key Facts
- State: Wisconsin
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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