A Florida couple will spend the next year in prison for bankruptcy fraud after admitting they concealed jewelry and other valuables in their bankruptcy case, the Associated Press reported on Friday. A West Palm Beach federal judge imposed the sentences on Thursday on Dr. Richard Krugman and his wife, Tamara Giordano. They were also ordered to pay more than $27,000 in restitution. The couple had owned a health care company that encountered financial difficulties in 2006, forcing them to file for bankruptcy two years later. At the time, they reported $3 million in debts and only $13,000 in assets but later said in court that was not true. Instead, Krugman and Giordano admitted hiding valuables such as a gold and diamond Rolex watch, diamond jewelry pieces, silver, china, crystal and two George Rodrigue "Blue Dog" lithographs.
