David Saks: MAN CONVICTED OF BANKRUPTCY FRAUD WIFE BUYS 300K HOME PRIOR TO FILING

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MAN CONVICTED OF BANKRUPTCY FRAUD WIFE BUYS 300K HOME PRIOR TO FILING

Former Houston Businessman Convicted of Bankruptcy Fraud

U.S. Attorney’s Office September 27, 2012
  • Southern District of Texas (713) 567-9000
 

HOUSTON—Jimmy Wayne Sissom, 46, has entered a plea of guilty to one count of bankruptcy fraud, United States Attorney Kenneth Magidson announced today. Sissom, of Bastrop, was the owner of Dealers Management Group Inc., a used car company located in Houston and a partner in F&S Storage Company in Katy.

Sissom filed a Chapter 7 bankruptcy petition in May 2006.

During the course of the bankruptcy proceeding, Sissom stated to the trustee that he had listed all of his assets in his estate.

However, he failed to disclose that approximately two weeks prior to the bankruptcy filing, his wife had purchased a home valued in excess of $300,000 that was located in Bastrop.

Sissom admitted today he made a false statement to the trustee about his assets.

U.S. District Judge Sim Lake, who accepted the guilty plea, has set sentencing for December 14, 2012, at which time he faces up to five years in federal prison and a possible $250,000 fine. Sissom was permitted to remain on bond pending that hearing.

The FBI investigated and Assistant United States Attorney Quincy L. Ollison prosecuted the case with the assistance of the United States Trustee’s Office.

source: FBI



David Saks



Time&Temp Memphis

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Comment balloon 7 commentsDavid Saks • September 27 2012 05:23PM

Comments

Wow, in a country that leads the world in most people incarcerated, wouln't the better punishment have been the $250,000 fine? Just my 2 cents...

Posted by Monique Keith, Ahwatukeenulls Favorite Realtor, Buyers Agent with about 7 years ago

Risk assessment is a major consideration of the court's sentencing guidelines. 

Bankruptcy fraud and lying to the trustee, coupled with a guilty plea, challenges a defendants integrity, Monique.

His sentencing is in December.

Stealing from this nations financial institutions, either by violent measures or on paper. is a serious crime and will not be tolerated.

The penalties for such crimes in this day and age in our nation, partially because of the rampant, egregious fraud in the real estate business, should be known to all that they are too terrible to risk for any criminal that would perpetrate a violation of the financial sector.

Posted by David Saks ((retired)) about 7 years ago

Interesting post , and i am the one convicted but they always leave the truth out.  The truth is my banker illegally foreclosed on my storage and car business.  And there is much more than that too it.  As well I was told to file a non spousal bankruptcy which meant my wife was not included and this is what i did.  My wife bought our first house in 2004 with her money and she had inheritance monies and her own personal money prior to me filing.  The trustee was aware of this in my bankruptcy and was presented with inheritance papers and years of financial statements backing this as well as inheritance lawyer stating such.  By the way we have never figured out what we did wrong and my wife was also charged with bankruptcy fraud and she was never even in bankruptcy.   Finally I paid back the 50000 that i was charged with on my wifes house of her money.  So i was fined and still receive jail time. 

i WAS SPECIFICALLY TOLD NOT TO PUT MY WIFES ASSETS AND THAT IS WHAT I DID.  WE SOLD OUR HOME IN APRIL OF 2006 AND ANOTHER ONE WAS PURCHASED AND I WAS TOLD THE HOUSE WAS EXEMPT AS WELL AS YOUR WIFE IS NOT IN BANKRUPTCY SO DO NOT PUT HER ASSETS. BY THE WAY , I CORRECTED THIS ONCE MY LAWYER EXPLAINED IT TO ME I HAD TO AMEND THE SCHEDULES AND WHEN I DID THAT I WAS CHARGED WITH PERJURY AS WELL....... ALL THE PROOF IS IN THE LINK BELOW.

ALSO IN THE LINK BELOW YOU WILL SEE THAT I NEVER EVEN SIGNED MY SCHEDULES MY LAWYERS PARALEGAL SIGNED THEM ILLEGALLY AND THE COURTS NEW BUT I GOT CHARGED WITH IT.

 

 

 

PLEASE READ MY STORY -  IT IS SCARY!!!!!!

http://jimmysissom.weebly.com/

Posted by jimmy sissom almost 7 years ago

IT IS BIZARRE IN THIS DAY AND TIME OF WALL STREET FRAUD, MORTGAGE FRAUD, JOHN CORZINE WITH MF GLOBAL , THE INSIDER TRADING BY CONGRESS AND THE COLLAPSE OF THE ECONOMY AND BEN BERNANKE SELLING THIS COUNTRY A LINE OF BS WITH GENERATING ALL THIS MONEY AND YOU WILL SOON SEE THR RESULTS BUT THE GENERAL PUBLIC JUST KEEPS ON HIDING LIKE IT MUST BE TRUE.  REMINDS ME OF THE STATE FARM COMMERCIAL THAT SAYS " WHERE DID YOU HEAR THAT ON THE INTERNET."   

 

PLEASE STOP BEING SO NAIVE IN THIS COUNTRY IF YOU WANT TO MAKE IT GREAT AGAIN.   I SURE DO.

Posted by jimmy sissom almost 7 years ago

Thank you for your comments, Mr Sissom.

As I am only aware of the details in the press release, provided by the Federal Bureau of Investigation and the United States Attorney's Office, I have no additional knowledge of your case outside of this blog entry.

However, you are most certainly welcome to comment.

My hopes for your fair, equitable justice.

Posted by David Saks ((retired)) almost 7 years ago

Were the officers of the bank foreclosing on the property using Mr. Sissom? Was accusing Mr.Sissom of bankruptcy fraud trying to close a case giving him some time in jail or a lot of time in jail (not much of a choice) and a large fine? There are a few more unanswered questions that do not seem to have logical reasoning or burden of proof to the bankruptcy charge. Seems that Mr. Sissom was misrepresented by his bankruptcy lawyer. The trustee of the bankruptcy assumed that this case included Ms.Sissom. The attorney filed the non-spousal bankruptcy papers late creating a domino screw up. ALL lawyers need to be held accountable for misrepresenting their clients, and maybe giving the lawyer a huge fine and time from representing new clients if sentencing is due to incompetence. Karma is a bitch and will come back to haunt this person. Mr.Sissom got screwed by the Bank, his attorney and trustee. Chalk another up to the system where banks have immunity and lawyers can screw something up and still sleep in their own bed.

Posted by Randye Fletcher; concerned over 6 years ago

Thank you for your comments, Mr Fletcher. I

As I am only aware of the details in the press release, provided by the Federal Bureau of Investigation and the United States Attorney's Office, I have no additional knowledge of the case outside of the blog entry and any information posted by the ActiveRain community.

Posted by David Saks ((retired)) over 6 years ago

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