J. Douglass Jennings, a practicing accountant and disbarred California attorney, pleaded guilty today to one count of Bankruptcy Fraud (Concealment of Assets) and one count of Tax Evasion, according to a Department of Justice Press release yesterday. Jennings, a Certified Public Accountant (CPA) and former attorney, once touted in a commercial that he managed “one of the nation’s leading estate and tax planning law firms.” In his plea agreement, Jennings admitted that, beginning in January 2010, he devised a scheme to defraud his unsecured creditors by concealing numerous assets, and then filed a voluntary bankruptcy petition in the U.S. Bankruptcy Court for the Southern District of California in furtherance of that scheme. Jennings further admitted that, in his bankruptcy filings, he defrauded his unsecured creditors by intentionally concealing the following assets and income valued at nearly $1.5 million.
