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The Bankruptcy Trustee vs. Uncle Sam: Dividing the Proceeds of the Crime

Real world questions such as, “Should we do this?” and “What happens if I get caught?” rattle through the minds of fraudsters at one point or another. Exposed and amid criminal seizure and forfeiture actions imposed by the DOJ, SEC and other regulatory bodies, the once-masters of their universe have no other choice but to file for bankruptcy. This panel explores financial crimes, including Ponzi and FCPA schemes, that have resulted in bankruptcy filings, and the conflict that ultimately arises between the bankruptcy estate and the federal government over the seized and forfeited assets. Topics include asserting a legal interest in the assets, the look-back period, remedies to the bankruptcy estate and priority schemes.

2020 Caribbean Insolvency Symposium
2020
Bankruptcy Code: 
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