What is bankruptcy fraud?

Bankruptcy fraud is a type of financial fraud that occurs when an individual or company intentionally provides false information or conceals assets during the bankruptcy process. It can take many forms, from concealing assets to bribing bankruptcy officials, and it can have serious legal and financial consequences for those involved.

What are the different types of bankruptcy fraud?

Several common types of bankruptcy fraud include the concealment of assets, false statements, bribery, multiple filings, and bankruptcy petition mills. One of the most common forms of bankruptcy fraud is the concealment of assets. This occurs when an individual or company fails to disclose assets that should be included in the bankruptcy estate.

Is bankruptcy fraud a white-collar crime?

Bankruptcy fraud is a white-collar crime that commonly takes four general forms: A debtor conceals assets to avoid having to forfeit them. An individual intentionally files false or incomplete forms. Including false information on a bankruptcy form may also constitute perjury.