Amana couple sent to jail over bankruptcy fraud

[debee]

Feb 07, 2011

PENSACOLA, FLORIDA (KWWL) -- A couple from Amana is sentenced for defrauding Florida bankruptcy creditors out of $350,000 thousand dollars in property, including a vehicle, boats, jewelry, and stocks.

A federal judge in Florida sentenced 60-year-old Gerald Schuerer and his wife, Fay, to prison after a jury found them guilty in November of bankruptcy fraud and mail fraud.

Gerald was sentenced to four years and two months, Fay to two and a half years. Officials say they sold assets to family members, with the understanding they would get them back after going bankrupt.

The couple moved to Florida, where bankruptcy exemptions are more liberal, and filed for bankruptcy protection. They moved back to Iowa and got the property back.

Source: http://www.kwwl.com/Global/story.asp?S=13987344

[papie]

Good.

I get so sick of reading and hearing about people trying to get around bankruptcy laws.

[AngelinaCatHub]

Thank you for posting this. How many times have we addressed people here who are attempting to beat the system. I for one have no real patience with those who obviously wish to make out in bk, and will not help them perform fraud. 'Hub

[AngelinaCat]

The couple are to surrender to authorities on March 21, 2011. Below is a link to a more comprehensive article:

http://www.kcrg.com/news/local/Amana-Couple-Will-Serve-Federal-Prison-Time-for-Fraud-Scheme-115589954.html

[hopeforus]

Some people are so incredibly stupid. It's just stuff people... is it really worth jail time?

[discouraged]

They should have gotten more than 4&2 years. This type of behavior puts all of us in a bad light, I think. We're dealing with the Denny Hecker thing here in MN. I hope he gets mucho time for his behavior!

[sscott4775]

It's amazing the lengths some people will go to protect material goods. Ironically, the very things they tried so desperately to protect they'll not get to enjoy because they'll be behind bars.

Just like Discouraged said, this kind of behavior puts those of us who obey the law in a bad light and we have to end up paying for their mistakes, one way or another .

[dneil]

I bet they realize now how much those material items are really worth. No worth much if your sitting your butt in prison for fraud, eh? The only thing that made me nervous about doing a bankruptcy was the concern that I would make an honest mistake. I was worried sick I would forget something that I was supposed to disclose. My attorney put my heart and mind at ease when he explained that any honest mistake can be fixed. There is a difference between a mistake and intent to commit fraud.
This couple made a terrible decision.... shame on them!

[clevelandmom]

Wow! Balls.

[sscott4775]

The only thing that made me nervous about doing a bankruptcy was the concern that I would make an honest mistake. I was worried sick I would forget something that I was supposed to disclose.

I had the exact same fear...never mind the fact that I didn't own a thing to my name (practically), I was still afraid something, somewhere from my past would creep up and bypass my memory! lol

[justbroke]

I actually enjoyed reading this one. This is why I'll keep saying, on BKForum, that you should not play games with assets!

Having no jetski is one thing... being in federal prison is no Disneyworld!

[sscott4775]

I actually enjoyed reading this one. This is why I'll keep saying, on BKForum, that you should not play games with assets!

Having no jetski is one thing... being in federal prison is no Disneyworld!

People try to move assets around like chess pieces on a chess board, but ya know what, the trustee always finds a way to checkmate.

[discouraged]

Exactly! I'm glad we have to submit bank statements so the trustee will see how often I go to Goodwill and will believe my 'garage sale' pricing, lol.

But why people do things like this is beyond me. My gosh, getting rid of the debt I owe is more than enough for me!

[AbbeyA]

These people deserve the jail time thy are getting.

[Wantmypeace]

That's insane. I don't get it. I mean, just getting bankruptcy relief is a HUGE blessing. To try to get or hide all kinds of extra stuff is just greed. Pure and simple.