Cleveland Resident Indicted on Bankruptcy Fraud Charges

Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, announced today that a federal grand jury in Cleveland, Ohio returned an indictment charging Patrick J. Slaughter with one count of concealment of assets and one count of making false statements in bankruptcy proceedings. According to court records, Slaughter, age 40, resides in Cleveland, Ohio.

The indictment alleges that Slaughter made false statements on his bankruptcy paperwork, concealing that he was in possession of a Cartier watch and Gents ring. Although Slaughter stated in his bankruptcy paperwork that he had a watch and other jewelry worth a total of approximately $50, the true value of these items is close to $20,000.

If convicted, the defendant’s sentence will be determined by the court after review of factors unique to this case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

This case is being prosecuted by Assistant United States Attorney Vasile C. Katsaros and Special Assistant United States Attorney Dean P. Wyman, following an investigation by the Cleveland Office of the Federal Bureau of Investigation.

An indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.