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VICTOR OSORIO, 40, OF BERGEN COUNTY, CHARGED WITH BANKRUPTCY FRAUD
A Bergen County, New Jersey, man has been charged with bankruptcy fraud, U.S. Attorney Craig Carpenito announced.
Victor Osorio, of Cresskill, New Jersey, is accused of making false declarations in relation to a bankruptcy proceeding. He is charged by complaint with two counts of bankruptcy fraud.
According to court documents, on Feb. 16, 2017, Osorio filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code in U.S. Bankruptcy Court for the District of New Jersey. Osorio signed the bankruptcy petition under penalty of perjury, declaring that the information provided was true and correct.
However, in the petition, Osorio stated that none of his affiliates had a pending bankruptcy case, failing to disclose that a business in which he had an interest, “Business 1,” had a bankruptcy case pending at the time in U.S. Bankruptcy Court for the Southern District of New York.
Osorio also filed Schedules of Assets and Liabilities, signed under penalty of perjury, in which he stated that he did not own or have an interest in any incorporated or unincorporated businesses. Osorio failed to disclose that he had an ownership interest in Business 1 – and he had declared approximately seven months earlier in Business 1’s bankruptcy documents that he was its sole owner – and had an ownership interest in another business, Business 2.
The bankruptcy fraud charge carries a maximum potential penalty of five years in prison and a $250,000 fine, or twice the gross gain or loss from the offense. U.S. Attorney Carpenito credited New York City Police Department detectives and Homeland Security Investigations special agents with the investigation leading to today’s charge.
The government is represented by Assistant U.S. Attorney Dara Govan, Chief of the U.S. Attorney’s Office Public Protection Unit in Newark; Assistant U.S. Attorney Sean M. Sherman, of the Public Protection Unit; and Special Assistant U.S. Attorney Ben Teich of the Economic Crimes Unit.
The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
Key Facts
- State: New Jersey
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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