Peter Szanto, Bankruptcy Fraud, Wyoming 2023

State: Wyoming
Category: Fraud &#038; Financial Crimes
Source: <a href="https://www.justice.gov/usao-wy/pr/activity-us-attorneys-office-27" style="color:#cc0000;" target="_blank" rel="nofollow noopener">DOJ Press Release ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â€

Peter Szanto, 73, of Oceanside, California, has been sentenced to time served (two days), three years of supervised release, a $7,000 fine, and a $100 special assessment for his involvement in a nine-year bankruptcy fraud scheme in Cheyenne, Wyoming.

According to court documents, Szanto engaged in the scheme to defraud JPMorgan Chase by means of materially false and fraudulent pretenses, representations, and promises, in order to hinder and obstruct the lawful foreclosure of his Newport Beach, California home, valued at approximately $4.5 million, through the repeated misuse of the U.S. bankruptcy courts, including the U.S. Bankruptcy Court for the District of Wyoming.

Szanto was indicted in July 2023 and pleaded guilty on May 10. This crime was investigated by the Federal Bureau of Investigation.

Chief U.S. District Court Judge Scott W. Skavdahl imposed the sentence on August 21. The scheme, which lasted for nine years, was a complex and lengthy process that involved numerous attempts to defraud the bank and avoid foreclosure.

Szanto’s actions were a clear abuse of the bankruptcy system, and his sentence reflects the seriousness of his crimes. The $7,000 fine and three years of supervised release are significant penalties that will hold him accountable for his actions.

The case serves as a reminder of the importance of honesty and transparency in financial dealings. Individuals who engage in bankruptcy fraud schemes will be held accountable and face severe consequences.

The Federal Bureau of Investigation will continue to investigate and prosecute individuals who engage in such schemes, and we will work to protect the integrity of the bankruptcy system.

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