Financial Fraud:Victor Osorio Charged With Making False Declarations In Relation To a Bankruptcy Proceeding
Bergen County, New Jersey, Man Charged With Bankruptcy Fraud
NEWARK N.J. – A Bergen County, New Jersey, man was charged today with making false declarations in relation to a bankruptcy proceeding, U.S. Attorney Craig Carpenito announced.
Victor Osorio, 40, of Cresskill, New Jersey, is charged by complaint with two counts of bankruptcy fraud. He is scheduled to make his initial appearance this afternoon before U.S. Magistrate Judge Steven C. Mannion in Newark federal court.
According to documents filed in this case and statements made in court:
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.
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.
In the Schedules, Osorio also stated that he did not own or have an interest in any checking, savings or other financial accounts, failing to disclose a bank account with a bank based in the Dominican Republic in which he had an interest.
On Feb. 24, 2017, Osorio filed amendments to the schedules, disclosing a partial ownership interest in Business 1. However, the amendments still failed to disclose an ownership interest in Business 2 and the bank account in the Dominican Republic.
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, under the direction of New York City Police Department Commissioner Paul P. O’Neill, assigned to the Homeland Security Investigations Border Security Enforcement Task Force (BEST); and special agents of HSI-New York, under the direction of Special Agent in Charge Angel M. Melendez, assigned to HSI/NY BEST, 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.