Cincinnati Resident Charged with Bankruptcy Fraud, Perjury, and Money Laundering

Strategic Insights -

A 61-year-old Cincinnati resident, Michael R. Macke, has been charged with bankruptcy fraud, perjury, and money laundering in a 10-count indictment. The charges allege that Macke, a golf course and real estate developer, transferred approximately $471,462.70 in funds in May 2007, prior to filing bankruptcy in November 2007. The indictment also accuses Macke of lying under oath at a meeting of creditors in his bankruptcy case.

Key Takeaways:

  • Michael R. Macke, a 61-year-old Cincinnati resident, has been charged with bankruptcy fraud, perjury, and money laundering in a 10-count indictment.
  • The charges allege that Macke transferred approximately $471,462.70 in funds in May 2007, prior to filing bankruptcy in November 2007.
  • The indictment charges Macke with engaging in a scheme to defraud his creditors and the bankruptcy court by transferring the money to purchase Elks Run Golf Course in Batavia, Ohio.
  • Macke is accused of failing to disclose the transfers or the trust in his bankruptcy case.
  • The indictment charges Macke with four counts of bankruptcy fraud, each carrying a potential sentence of up to five years in prison and a fine of up to $250,000.
  • The indictment also charges Macke with five counts of money laundering, each carrying a potential sentence of up to ten years in prison and a fine of up to $250,000.
  • The indictment seeks forfeiture of $471,462.70, which represents the value of the fraudulent transfers.
  • Macke is scheduled to appear before U.S. Magistrate Judge Stephanie K. Bowman for an initial appearance on January 27, 2011.

Statistics:

  • $471,462.70: the amount of funds transferred by Macke to purchase Elks Run Golf Course in Batavia, Ohio.
  • $35,656,197.42: the amount of debts owed by Macke to his creditors.
  • 4: the number of counts of bankruptcy fraud charged against Macke.
  • 5: the number of counts of money laundering charged against Macke.
  • 10: the total number of counts in the indictment.
  • $250,000: the maximum fine for each count of bankruptcy fraud and money laundering.

Sources:

  • A press release from the Cincinnati Division of the Federal Bureau of Investigation.
  • The Southern District of Ohio, U.S. Department of Justice.