St. Louis Businessman Pleads Guilty to Bankruptcy Fraud
ST. LOUIS, MO—A St. Louis businessman, KENNETH HUTCHINSON, pled guilty to one count of bankruptcy fraud and admitted to lying about his income and assets in relation to his 2014 bankruptcy case filed in the United States Bankruptcy Court for the Eastern District of Missouri.
According to court documents, Hutchinson failed to disclose his real estate and business holdings, as well as the bank accounts he maintained and controlled, in his 2014 bankruptcy petition. In addition, Hutchinson misrepresented his personal income and failed to identify funds he withdrew from business accounts for his personal use. Hutchinson made these false declarations and statements in relation to his Chapter 7 bankruptcy filing, knowing them to be false, and did so with the intent to deceive his creditors, the trustee and the bankruptcy judge.
Hutchinson, St. Louis, pled guilty to one felony count of bankruptcy fraud before United States District Judge Henry Autrey. Sentencing has been set for December 7, 2015.
This charge carries a maximum penalty of five years in prison and/or fines up to $250,000. In determining the actual sentences, a judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.
This case was investigated by the Federal Bureau of Investigation. Assistant United States Attorney Charles Birmingham is handling the case for the U.S. Attorney’s Office.