Bankruptcy Conspiracy
Bankruptcy to me was something that happened in Monopoly and to CEO's and fortune 500 companies. I had no concepts of any form of personal bankruptcy. Although personal bankruptcy is not something we hear of often it does happen at a frequent rate every year.
To my research findings I found a couple in the state of Texas who tried to conspirer to commit bankruptcy. They almost succeeded, Richard Kent Harris and Darlene Ann Riley claimed debts of $174,000.
Riley and Harris had filed for divorce in 2013 unknown to the creditors riley and harris had moved $67,000 from their shared credit account and moved it into Riley's sole account. The Couple filled for Bankruptcy in 2013. Under the federal status Harris and Riley face up to 5 years in federal sentencing.
This story shows that you do not have to be a millionaire to file bankruptcy and that big business/millionaires are not the only ones trying to make a buck out of systems put in place to "help" people. In the most recent banking crisis the tax payer had to pay out the bankruptcy of the banks. In order to keep the economy from completely crashing their has to be funds that are going to bailout corporations that have the potential to fail. But this bankruptcy is not a sign of defeat it is if anything a fresh start once it is all said and done.
Link for information found at: https://www.justice.gov/usao-edtx/pr/montgomery-county-couple-guilty-bankruptcy-fraud-conspiracy
To my research findings I found a couple in the state of Texas who tried to conspirer to commit bankruptcy. They almost succeeded, Richard Kent Harris and Darlene Ann Riley claimed debts of $174,000.
Riley and Harris had filed for divorce in 2013 unknown to the creditors riley and harris had moved $67,000 from their shared credit account and moved it into Riley's sole account. The Couple filled for Bankruptcy in 2013. Under the federal status Harris and Riley face up to 5 years in federal sentencing.
This story shows that you do not have to be a millionaire to file bankruptcy and that big business/millionaires are not the only ones trying to make a buck out of systems put in place to "help" people. In the most recent banking crisis the tax payer had to pay out the bankruptcy of the banks. In order to keep the economy from completely crashing their has to be funds that are going to bailout corporations that have the potential to fail. But this bankruptcy is not a sign of defeat it is if anything a fresh start once it is all said and done.
Link for information found at: https://www.justice.gov/usao-edtx/pr/montgomery-county-couple-guilty-bankruptcy-fraud-conspiracy
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