PHOENIX – A high-profile Scottsdale attorney has been sentenced to 18 months in prison for his role in a massive bankruptcy fraud scheme.
Scott Allan Maasen, 42, was ordered to pay nearly $1.4 million in restitution to the United States Small Business Administration (SBA) as part of his sentence.
Masen pleaded guilty to one count of concealment of assets in bankruptcy and was sentenced by Senior U.S. District Judge David Campbell on November 13, 2018.
According to court documents, Masen filed for bankruptcy in late 2009 after failing to make payments on a $1.5 million loan guaranteed by the SBA.
While his bankruptcy proceedings were pending, Masen purchased a $90,000 engagement ring for his fiancé, but failed to disclose the ring or his payments in his bankruptcy filings.
Masen used credit card and bank accounts in his father’s name to make the payments, creating a false appearance that his father had purchased the ring.
The investigation into Masen’s scheme was conducted by the Internal Revenue Service – Criminal Investigation and the SBA’s Office of the Inspector General.
The prosecution was handled by Frank Galati, Bridget Minder, and Peter Sexton, Assistant U.S. Attorneys for the District of Arizona.
Key Facts
- State: Arizona
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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