McHenry County Man Pleads Guilty to Making False Declaration in Bankruptcy Case

ROCKFORD (WIFR) – A Wonder Lake, Ill. Man has pleaded guilty to one count of making a false declaration under penalty of perjury in a bankruptcy case filed in the United States Bankruptcy Court in Rockford.

51-year-old James Grossmayer filed a Chapter 7 Bankruptcy Petition on September 19, 2008. As he admitted in his Plea Agreement, Grossmayer also filed a Schedule B listing his personal property of which he intentionally omitted his ownership interest in a New York Life Amenity. Grossmayer further admitted he signed his bankruptcy schedules under penalty of perjury, knowing Schedule B was false and that his interest in the annuity at that time was approximately $25,000.

The charge in this case carries a maximum penalty of 5 years’ imprisonment and a fine of up to $250,000, or twice the gross gain or gross loss resulting from that offense, whichever is greater.

The judge may also impose a sentence of probation of one to five years and a term of supervised release of up to three years. The actual sentence will be determined by the United Stats District Court, guided by the Sentencing Guidelines. Grossmayer is scheduled to be sentenced on December 5, 2013, at 9:30 a.m.

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