Financial Fraud:Victor Osorio Charged With Making False Declarations In Relation To a Bankruptcy Proceeding

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Bergen County, New Jersey, Man Charged With Bankruptcy Fraud

<h2>Bergen County&comma; New Jersey&comma; Man Charged With Bankruptcy Fraud<&sol;h2>&NewLine;<p>NEWARK N&period;J&period; – A Bergen County&comma; New Jersey&comma; man was charged today with making false declarations in relation to a bankruptcy proceeding&comma; U&period;S&period; Attorney Craig Carpenito announced&period;<&sol;p>&NewLine;<p>Victor Osorio&comma; 40&comma; of Cresskill&comma; New Jersey&comma; is charged by complaint with two counts of bankruptcy fraud&period; He is scheduled to make his initial appearance this afternoon before U&period;S&period; Magistrate Judge Steven C&period; Mannion in Newark federal court&period;<&sol;p>&NewLine;<p>According to documents filed in this case and statements made in court&colon;<&sol;p>&NewLine;<p>On Feb&period; 16&comma; 2017&comma; Osorio filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code in U&period;S&period; Bankruptcy Court for the District of New Jersey&period; Osorio signed the bankruptcy petition under penalty of perjury&comma; declaring that the information provided was true and correct&period;<&sol;p>&NewLine;<p>In the petition&comma; Osorio stated that none of his affiliates had a pending bankruptcy case&comma; failing to disclose that a business in which he had an interest&comma; &OpenCurlyDoubleQuote;Business 1&comma;” had a bankruptcy case pending at the time in U&period;S&period; Bankruptcy Court for the Southern District of New York&period;<&sol;p>&NewLine;<p>Osorio also filed Schedules of Assets and Liabilities&comma; signed under penalty of perjury&comma; in which he stated that he did not own or have an interest in any incorporated or unincorporated businesses&period; 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&comma; Business 2&period;<&sol;p>&NewLine;<p>In the Schedules&comma; Osorio also stated that he did not own or have an interest in any checking&comma; savings or other <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;tag&sol;financial-fraud&sol;" title&equals;"financial" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"923">financial<&sol;a> accounts&comma; failing to disclose a bank account with a bank based in the Dominican Republic in which he had an interest&period;<&sol;p>&NewLine;<p>On Feb&period; 24&comma; 2017&comma; Osorio filed amendments to the schedules&comma; disclosing a partial ownership interest in Business 1&period; However&comma; the amendments still failed to disclose an ownership interest in Business 2 and the bank account in the Dominican Republic&period;<&sol;p>&NewLine;<p>The bankruptcy fraud charge carries a maximum potential penalty of five years in prison and a &dollar;250&comma;000 fine&comma; or twice the gross gain or loss from the offense&period;<&sol;p>&NewLine;<p>U&period;S&period; Attorney Carpenito credited New York City Police Department detectives&comma; under the direction of New York City Police Department Commissioner Paul P&period; O’Neill&comma; assigned to the Homeland Security Investigations Border Security Enforcement Task Force &lpar;BEST&rpar;&semi; and special agents of HSI-New York&comma; under the direction of Special Agent in Charge Angel M&period; Melendez&comma; assigned to HSI&sol;NY BEST&comma; with the investigation leading to today’s charge&period;<&sol;p>&NewLine;<p>The government is represented by Assistant U&period;S&period; Attorney Dara Govan&comma; Chief of the U&period;S&period; Attorney’s Office Public Protection Unit in Newark&semi; Assistant U&period;S&period; Attorney Sean M&period; Sherman&comma; of the Public Protection Unit&semi; and Special Assistant U&period;S&period; Attorney Ben Teich of the Economic Crimes Unit&period;<&sol;p>&NewLine;<p>The charges and allegations contained in the complaint are merely accusations&comma; and the defendant is presumed innocent unless and until proven guilty&period;<&sol;p>&NewLine;

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