A couple previously convicted for fraud following a hurricane have filed for bankruptcy, according to a report. The couple hails from Jasper and had been convicted in 2017 for theft and fraud due to diverting hurricane relief money illegally.
The conviction was issued on August 16. The man is the former executive director for the Deep East Texas Council of Governments. He was convicted of theft, money laundering, and wire fraud.
His wife was convicted of money laundering and wire fraud. The couple's daughter, and the couple, were convicted of conspiracy to commit wire fraud in the case as well.
Each person is facing no more than 30 years in prison for their role in this crime. Sentencing has not been issued yet. A prosecutor has recommended that the family pay restitution of $1 million. A judge will make a ruling on this recommendation in 2018.
The couple filed for bankruptcy on December 29, 2017, claiming that they have liabilities ranging between $500,000 and $1 million. They listed the assets they have in the same range as their debts.
The petition for bankruptcy states that the couple is planning to pay down their debts using installments over a period of three to five years. The couple will not lose their home to foreclosure or their assets to liquidation in the plan they proposed in the petition.
Finding yourself in dire financial situations can cause you quite a bit of stress. You might not know what to do next to fix your finances. Your best bet is to look into filing for bankruptcy, which can give you a fresh financial start once it is finished.
Source: Beaumont Enterprise, "Pastor, wife convicted of hurricane fraud file for bankruptcy," Jan. 12, 2018