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Sycamore, Ill., attorney Kevin Johnson (aka “K.O. Johnson”), was sentenced Wednesday to spend 2 years in federal prison for bankruptcy fraud, WTVO reported. Johnson was found guilty in August on four counts of bankruptcy fraud, one count of making a false entry in a document in a bankruptcy proceeding, one count of withholding records from the Bankruptcy Trustee, and one count of concealment of property consisting of account receivables belonging to the bankruptcy estate. Johnson’s sentence will be followed by two years of supervised release.

A former financial adviser barred from the industry over accusations he defrauded clients has filed for bankruptcy, the The (Eau Claire, Wis.) Leader-Telegram reported. Michael F. Shillin filed for chapter 7 at the end of November in U.S. Bankruptcy Court for the Eastern District of Wisconsin. He had run his own firm, Shillin Wealth Management in Altoona's River Prairie development, from mid-2018 to the end of 2020 when it closed while he was under investigation. Earlier this month the U.S. Securities and Exchange Commission barred Shillin from the industry, following similar bans imposed by Wisconsin regulators and a nationwide organization that licenses financial advisers. Shillin is currently facing a federal criminal lawsuit on several charges of fraud from his time working as a financial adviser in the Chippewa Valley. In his petition for bankruptcy, Shillin claims to have about $101,000 in assets, but over $1.86 million in liabilities.A former financial adviser barred from the industry over accusations he defrauded clients has filed for bankruptcy. The filing details numerous debts leftover from his defunct financial firm, Shillin's own personal debts and multiple former clients who lodged complaints against him with regulators. The lengthy list of creditors is topped by several agencies, followed by businesses and individuals he owes from his time as a financial advisor in the Chippewa Valley.