The former president of a Kerrville, Texas, consulting company is facing a criminal charge in connection with an alleged scheme that’s blamed for leading the firm into bankruptcy, the San Antonio Express-News reported. A San Antonio federal grand jury yesterday indicted Stephen Canty on the charge of making false statements on a credit or loan application, according to Assistant U.S. Attorney Bud Paulissen. Canty faces up to 30 years in prison if convicted. The HJH Consulting Group Inc., which does business as the Salt Group, and two related firms, US Tax Recovery Partners and B2B Prospecting, filed for Chapter 11 reorganization April 2. During an April creditors meeting, HJH bankruptcy lawyer James Wilkins accused Canty of overstating the amount of money clients owed the company by $25 million. Canty was able to tap more of the company’s $27 million line of credit with Texas Capital Bank by manipulating the books, Wilkins added.
