Home Pittsburgh Press Releases 2009 Cabell County Man Pleads Guilty to Bankruptcy Fraud
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Cabell County Man Pleads Guilty to Bankruptcy Fraud

U.S. Attorney’s Office February 18, 2009
  • Southern District of West Virginia (304) 345-2200

Huntington, West Virginia—Clinton Lee Smith, 62, formerly of Huntington, West Virginia, pled guilty yesterday before United States District Judge Robert C. Chambers to bankruptcy fraud.

In November 2008, a federal grand jury sitting in Charleston, West Virginia returned a three-count indictment against Smith charging him with bankruptcy fraud, concealment of assets, and making a false declaration in a bankruptcy proceeding. An investigation conducted by the Federal Bureau of Investigation revealed that Smith failed to disclose the transfer of property or to list income received from the sale of property on his Chapter 7 bankruptcy petition.

At his hearing, Smith admitted that in January 2003, he received approximately $103,000 from the sale of 50 acres in Cabell County, West Virginia. Specifically, Smith received $11,000 at closing and was to receive $2,000 monthly until the loan was paid in full. As part of his plea agreement, Smith stipulated he lied under oath at a bankruptcy meeting of creditors by claiming his ex-wife received the property in their 2001 divorce. Smith faces up to five years in prison and a $250,000 fine when he is sentenced on May 26, 2009. Assistant United States Attorney Thomas Ryan is handling the prosecution.

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