Virginia CEO convicted of fraud fees connected to bankruptcy

The CEO of a personal jet constitution company in Virginia has been convicted of numerous fraud expenses tied to a personal bankruptcy circumstance in which he discharged in excess of $6 million in individual credit card debt, according to a federal prosecutor.

ALEXANDRIA, Va. (AP) — The CEO of a private jet constitution enterprise in Virginia has been convicted of numerous fraud charges tied to a personal bankruptcy circumstance in which he discharged about $6 million in personal credit card debt, in accordance to a federal prosecutor.

The U.S. Attorney’s Place of work for the Jap District of Virginia said Alan Russell Cook, Sr., 64, of Reston filed for Chapter 7 individual bankruptcy in his person ability as president and CEO of an aviation business.

Ahead of the submitting, Cook dinner transferred above $350,000 to his former girlfriend and had her open up accounts in her identify and in the identify of a bogus firm to receive his personal property and income from the firm, prosecutors explained.

Cook also failed to disclose several bank accounts and above $50,000 in on line casino money-outs. At a assembly of his creditors, Cook created phony statements under oath, together with that his corporation was shut down for 4 to 5 months and created no revenue in 2017 when it truly produced profits in every single month that calendar year.

Prepare dinner even further failed to disclose producing payments for his girlfriend’s luxurious car and his accessibility to the fraudulent lender account.

Cook faces up to 20 many years in prison when sentenced in April 2022.

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