BUFFALO, NY – In a stunning display of deceit, Marc Korn, a 58-year-old resident of East Amherst, has been indicted for bankruptcy fraud, a crime that carries a maximum sentence of five years in prison and a fine of $250,000.
According to Assistant U.S. Attorney Elizabeth R. Moellering, Korn made false statements under oath during a bankruptcy proceeding concerning the ownership of safe deposit boxes. Furthermore, the indictment alleges that the defendant failed to disclose life insurance policies transferred to another person, and concealed assets from his creditors.
This is not Korn’s first brush with the law. He is currently under federal indictment on charges of wire fraud, bank fraud, and failure to pay over employment taxes, as well as making false statements to law enforcement, which carry a maximum penalty of 30 years in prison, a fine of $1,000,000 or both. A trial on those charges is scheduled to begin on May 20, 2015.
The fact that a defendant has been charged with a crime is merely an accusation, and Korn is presumed innocent until and unless proven guilty.
The investigation into Korn’s activities was conducted by Special Agents of the Federal Bureau of Investigation, who worked tirelessly to uncover the truth behind the defendant’s alleged crimes.
Korn was arraigned this morning before U.S. Magistrate Judge Jeremiah J. McCarthy and was released on conditions.
As the Grimy Times continues to uncover the truth behind Korn’s alleged crimes, one thing is clear: bankruptcy fraud will not be tolerated in the Empire State.
Related Federal Cases
- Todd Faustin, Workers’ Compensation Fraud, New York NY, 2023 · Ohio
- Kenneth Thom, Investment Adviser Fraud, New York NY, 2026 · Ohio
- Kenneth Thom, Investment Adviser Fraud, New York NY, 2023 · Ohio
- Mark Thompson, Wire Fraud and Conspiracy, New York NY, 2023 · Ohio
- Attyx CEOs, $275M Solar Panel Installation Fraud, New York NY, 2023 · New York
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
ðŸâ€â€™ Get the grimiest stories delivered weekly. Subscribe free →
