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Transferring assets to different entities prior to impending bankruptcy is clear cut fraud. The company was charged and convicted of a felony which would pierc
by adrr 7y ago
Transferring assets to different entities prior to impending bankruptcy is clear cut fraud.
The company was charged and convicted of a felony which would pierce the corporate veil.
- hogFeast 7y agoIt isn't. It is called fraudulent conveyance, and it is well covered by existing law (it is not fraud, it is not a criminal act). And the issue, as the article repeatedly says, is about personal wealth.
- loeg 7y ago> Transferring assets to different entities prior to impending bankruptcy is clear cut fraud. No. The transfers were (a) personal wealth and (b) a decade ago.