A Topeka, Kansas, real estate developer has been indicted by federal grand jurors on 103 counts of bankruptcy fraud, the Associated Press reported yesterday. Kent Lindemuth filed for chapter 11 protection in November 2012, claiming he had more than $3.5 million of debt. Lindemuth is accused in Wednesday's indictment of buying more than 100 firearms valued at more than $80,000 from August 2013 to late 2014. Lindemuth didn't tell his creditors or the bankruptcy trustee about the firearms or the money used to buy them. Read more.
For a further analysis of commercial fraud, make sure to pick up a copy of ABI’s Fraud and Forensics: Piercing Through the Deception in a Commercial Fraud Case.