The vast majority of people that consider filing for bankruptcy in Florida take the decision very seriously and only file after they have exhausted other options. Unfortunately, however, there are instances where people attempt to take advantage of the debt relief system. Bankruptcy fraud is a major offense that can result in serious legal penalties.
One woman was recently charged with two offenses relating to bankruptcy fraud. She was accused of third-degree theft for failing to properly declare funds in her bankruptcy filing, which could result in a monetary fine of $150,000 and a prison sentence of up to five years. The other charge is fraud in insolvency in the second degree. That conviction could be accompanied by similar monetary penalties and a prison sentence of 10 years.