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Bankruptcy "Perfect Crime" Foiled By FBI's Discovery Of $2 Million Hidden Cash


Posted on Oct 01, 2012

65 Foot Hatteras Sport FishermanMillionaire Shreveport businessman Harold L. Rosbottom Jr., 55, and his girlfriend Ashley Kisla, 44, of Coushatta, have been convicted by a federal jury for concealing nearly $2 million from Rosbottom’s creditors in the course of his bankruptcy proceeding, according to a news release from the U.S. Attorney's office in Shreveport.

Rosbottom must have thought he was committing the perfect crime, when he tried to hide a series of 17 cashier’s checks totaling $1,820,195 all payable to Rosbottom. The FBI however discovered this fraud, as well as a $140,000 deposit given to a Florida broker towards the purchase of a 65-foot Hatteras sport fisherman boat. Rosbottom was also found guilty of money laundering, first for causing the transfer of more than $1.1 million in order to purchase the boat and also for causing the transfer of $540,000 to pay for a 50% ownership interest in a Westwind 1124 jet aircraft.

Finally, Rosbottom was convicted of giving a false oath and account when questioned about these transactions during the course of his bankruptcy proceeding.

The federal jury, after hearing five days of testimony and reviewing hundreds of documents, convicted Rosbottom of one count each of conspiracy to commit bankruptcy fraud, conspiracy to commit money laundering and illegal transfer of assets, three counts of concealment of assets and two counts of giving a false oath.

Rosbottom faces a maximum penalty of 20 years in prison and a fine of twice the amount of money involved in the transaction for the conspiracy charge. He also faces a maximum penalty of five years and a $250,000 fine for each of the other counts.

Kisla was convicted of one count each of conspiracy to commit bankruptcy fraud, giving a false oath and conspiracy to commit money laundering.

She faces a maximum penalty of 20 years in prison and a fine of twice the amount of money involved in the conspiracy transaction. She also faces a maximum penalty of five years in prison and a $250,000 fine on the two other counts of conviction.

In an unusual move following conviction, after the jury rendered its verdict, U.S. District Court Judge Donald Walter ordered Rosbottom and Kisla be taken into custody and detained pending their sentencing hearings set for 10 a.m. Jan. 3.

 

 

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Ronald J. Drescher
Bankruptcy and Creditor's Lawyer Serving Maryland, Delaware, Virginia, and Pennsylvania