Nashville Man Indicted for Bankruptcy Fraud
Michael Ross Smith, 43, of Brentwood, Tenn., was indicted on October 22, 2014, by a federal grand jury in Nashville, on three counts of bankruptcy fraud, announced David Rivera, U.S. Attorney for the Middle District of Tennessee.
The indictment alleges that Smith filed for bankruptcy and then committed bankruptcy fraud by providing false testimony, under oath, during an examination conducted by the U.S. Trustee. Smith testified that he had been a temporary employee of a Nashville business and also testified that he was no longer employed by the business. According to the indictment, Smith was in fact employed by the business as the President of Sales and earned an annual base salary of $150,000. The indictment also charges Smith with fraudulently withholding documents related to his employment and financial affairs, in violation of an order issued by the Bankruptcy Court for the Middle District of Tennessee.
The U.S. Trustee Program is the component of the Justice Department that protects the integrity of the bankruptcy system by overseeing case administration and litigation to enforce the bankruptcy laws.
If convicted, Smith faces a maximum penalty on each count of five years in prison, a fine of $250,000 and a $100 mandatory assessment fee.
This investigation was conducted by the FBI with assistance from the U.S. Trustee. The government is represented by Assistant U.S. Attorney Stephanie N. Toussaint and Special Asst. U.S. Attorney Lloyd E. Mueller.
An indictment is merely an accusation and is not evidence of guilt. The defendant is presumed innocent unless and until proven guilty in a court of law.