Is helping someone hide money from a bankruptcy court a crime?

DCal430

Diamond Member
Feb 12, 2011
6,020
9
81
If someone agrees to hold lots of money for someone else in order to hide it from a bankruptcy court and creditors, are they guilty of any crime?

I know the person who having their money hidden is guilty of a fraud or some other crime, but what about the person helping them?

If it is a crime, what kind of punishment do they face if caught?
 

zzuupp

Lifer
Jul 6, 2008
14,865
2,319
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Conspiracy. & if those assets got comingled, they could break out the latex gloves to find everything
 

CptObvious

Platinum Member
Mar 5, 2004
2,501
7
81
Not even conspiracy. That is chargeable as outright bankruptcy fraud under bankruptcy statute and you're looking at FPMITA prison.
 

DCal430

Diamond Member
Feb 12, 2011
6,020
9
81
Does it mater if you are paid to do this, or if you are just doing it to help out a friend or family member?
 
Sep 12, 2004
16,852
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I was considering your question and pondering the answer myself (even though there's no question it's probably a serious crime) brought up a tab for Google, and typed in "3rd party hiding assets bankruptcy."

As my finger approached the Enter key I asked myself the question "Why do you need to know this info?" More importantly I wondered "Do I really want to initiate a public search on those particular keywords."?

I closed the tab. Could turn out to be one of the better decisions I made today.
 
Dec 10, 2005
26,506
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Let me rephrase your question so that you may better understand what you are asking: "Is helping someone break the law a crime?"
 

Zenmervolt

Elite member
Oct 22, 2000
24,512
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Does it mater if you are paid to do this, or if you are just doing it to help out a friend or family member?

You realize that what you're asking amounts to, "Does it matter if you are paid to break the law or just break the law for free," right?

I have trouble believing that anyone is this stupid.

ZV
 

herrjimbo

Senior member
Aug 21, 2001
830
11
81
it's called aiding and abetting a criminal which makes you just as guilty.

you make the decision. are you feeling lucky?
 

FleshLight

Diamond Member
Mar 18, 2004
6,883
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I thought they look at all financial records including checks and transfers for the past 2 years.
 

AyashiKaibutsu

Diamond Member
Jan 24, 2004
9,306
3
81
I was considering your question and pondering the answer myself (even though there's no question it's probably a serious crime) brought up a tab for Google, and typed in "3rd party hiding assets bankruptcy."

As my finger approached the Enter key I asked myself the question "Why do you need to know this info?" More importantly I wondered "Do I really want to initiate a public search on those particular keywords."?

I closed the tab. Could turn out to be one of the better decisions I made today.

If you think anyone is going to give a shit about your docile search among the thousands of terabytes of data being collected, I don't know what to think of humanity. You think people do a find all on google's search logs or something?
 

ImpulsE69

Lifer
Jan 8, 2010
14,946
1,077
126
Take the money and spend it. They can't prove you knew that person was going thru a bankruptcy. Course...you might wanna move far away from that person.....
 

Red Squirrel

No Lifer
May 24, 2003
69,266
13,020
126
www.anyf.ca
I suppose it could be arranged in a way where the person is completely unaware of why they are holding the money. Something like "This is going to sound weird, but can I give you money for you to put in an investment account and you can pay me back later? Long story."

If the person agrees they're unaware of the reason, I think they'd be safe.

Probably better off just buying tons of GICs or other item that can be sold back later for a hopefully equal or larger amount.

Hiding money like this would probably be the only way to actually live life if you were caught with some lawsuit. Declare bankruptcy, then live off this small amount of cash, in a van down by the river.
 

Tommy2000GT

Golden Member
Jun 19, 2000
1,832
3
81
Chinese people do it all the time. They rack up $500k and then give the cash to another family member and declare bankruptcy. Then another one would do it so they all get rich.
 

AyashiKaibutsu

Diamond Member
Jan 24, 2004
9,306
3
81
I suppose it could be arranged in a way where the person is completely unaware of why they are holding the money. Something like "This is going to sound weird, but can I give you money for you to put in an investment account and you can pay me back later? Long story."

If the person agrees they're unaware of the reason, I think they'd be safe.

I wouldn't trust a jury to buy the idea that I had no idea why a large sum of money was given to me.