Tuesday, December 11, 2007

2C:21-13. Fraud in insolvency

2C:21-13. Fraud in insolvency
A person commits a crime if, knowing that proceedings have been or are about to be instituted for the appointment of a receiver or other person entitled to administer property for the benefit of creditors, or that any other composition or liquidation for the benefit of creditors has been or is about to be made, he:

a. Destroys, removes, conceals, encumbers, transfers, or otherwise deals with any property or obtains any substantial part of or interest in the debtor's estate with purpose to defeat or obstruct the claim of any creditor, or otherwise to obstruct the operation of any law relating to administration of property for the benefit of creditors;

b. Knowingly falsifies any writing or record relating to the property; or

c. Knowingly misrepresents or refuses to disclose to a receiver or other person entitled to administer property for the benefit of creditors, the existence, amount or location of the property, or any other information which the actor could be legally required to furnish in relation to such administration.

If the benefit derived from a violation of this section is $75,000.00, or more, the offender is guilty of a crime of the second degree. If the benefit derived exceeds $1,000.00, but is less than $75,000.00, the offender is guilty of a crime of the third degree. If the benefit derived is $1,000.00, or less, the offender is guilty of a crime of the fourth degree.

Criminal and Motor vehicle violations can cost you. You will have to pay fines in court or receive points on your drivers license. If convicted of a criminal offense you could face Jail Time and loss of Job. An accumulation of too many points, or certain moving violations may require you to pay expensive surcharges to the N.J. MVC [Division of Motor Vehicles] or have your license suspended. Don't give up! The Law Office of Kenneth Vercammen can provide experienced attorney representation for criminal and serious motor vehicle violations.

Kenneth Vercammen & Associates, P.C.
Attorney at Law
2053 Woodbridge Ave.
Edison, NJ 08817
732-572-0500 (Phone)
732-572-0030 (Fax)