Andrew Welch, an Idaho pharmacist, filed a voluntary Chapter 7 bankruptcy petition. He signed it and its supporting documents, listing general unsecured debts adding up to $273,840.88. Welch falsely claimed he did not own any real property and that his personal property was only worth $13,564.60 but he intentionally and illegally neglected to reveal that he transferred more than $250,000 to an investment account in someone else’s name. Those transfers transpired through cashier’s checks, cash deposits, wire transfers and money orders starting in September 2012 through January 2015. Welch’s sentencing is set to for October 14th, 2020 in which he will face 5 years in federal prison and maximum fine of $250,000 and a year of supervised release due to his false claims on his petition.
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