SALT LAKE CITY — A federal grand jury returned a 12-count indictment late Wednesday afternoon charging Terry Charles Diehl, age 61, of Salt Lake City, with filing false declarations and concealing assets in connection with his Chapter 11 bankruptcy reorganization.
The indictment alleges that several months prior to filing for bankruptcy on March 30, 2012, Diehl set up a company, Skyline Ventures Associates, Inc. (SVA), owned by his two daughters, but managed and controlled by him, to conduct his daily business and financial affairs. The indictment also alleges that Diehl caused a SVA business bank account to be opened, and although the authorized signatories on the SVA account were his daughters and office manager, Diehl controlled and directed all funds in and out of the account.
The indictment further alleges that despite Diehl’s primary obligation to provide for full financial disclosure imposed by federal bankruptcy law, he filed false declarations with the bankruptcy court, knowingly and fraudulently omitting or misrepresenting facts about SVA and the funds he controlled in and out of the SVA account. For example, on Diehl’s Statement of Financial Affairs, a bankruptcy filing requiring full disclosure of his current financial status, he omitted SVA, a corporation Diehl clearly managed and controlled in his daily business affairs. In this filing, the indictment alleges Diehl also omitted more than $1 million in gross business income stemming from a UTA Front Runner transit oriented development in Draper, Utah.
The indictment also alleges that Diehl received more than $1 million in gross income related to a UTA Front Runner real estate development and knowingly and fraudulently misrepresented that income to the bankruptcy court.
The first five counts of the indictment allege false declarations. The indictment also alleges seven counts of concealment of assets. The potential penalty for each count in the indictment is five years in prison and a fine of $250,000.
Terry Charles Diehl, a Utah real estate developer and former board member of the Utah Transit Authority, is the defendant in this case. The case is being investigated by special agents of the FBI and the U.S. Department of Transportation Office of Inspector General.
Individuals charged in an indictment are presumed innocent unless or until proven guilty in court.
Terry Charles Diehl, a 61-year-old Salt Lake City resident, is charged with filing false declarations and concealing assets in connection with his Chapter 11 bankruptcy reorganization. The indictment alleges that Diehl received over $1 million in gross income related to a UTA Front Runner real estate development and knowingly and fraudulently misrepresented that income to the bankruptcy court.
Related Federal Cases
- Terry Charles Diehl, Bankruptcy Reorganization Fraud, Utah 2012 · Utah
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- Patrick Merrill Brody, Wire Fraud and Money Laundering, Utah 2012 · Florida
- Emilee Peterson Buckley, Wire Fraud, Utah 2010 · Utah
Key Facts
- State: Utah
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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