Bankruptcy Crime

Bankruptcy crime refers to illegal actions taken by individuals or businesses during the bankruptcy process. This includes deliberately hiding assets, falsifying financial records, or making fraudulent transactions to avoid paying debts. These actions undermine the legal system designed to help creditors and those in financial distress recover fairly. Bankruptcy laws exist to provide a structured way to deal with insolvency, and engaging in bankruptcy crime can lead to severe penalties, including fines and imprisonment. Essentially, it’s about dishonesty and exploitation of the legal protections available in bankruptcy.