Bankruptcy affects millions of people in the U.S. every year and many of those people are familiar faces that we have seen before. Willie Nelson, Debbie Reynolds, Mark Twain, Rembrandt, and Mike Tyson are just a few of the famous people that have filed for bankruptcy in the past. Toni Braxton, who has filed for bankruptcy twice in the last 15 years, has made headlines again with her most recent case.
The trustee who is in charge of her 2010 bankruptcy case is accusing her of bankruptcy fraud. They are saying that Toni illegally transferred funds to her ex-husband in an attempt to avoid paying back creditors. The total amount transferred was $53,490. This might not seem like a large amount of money when you are in debt somewhere between $10 to $50 million dollars but to the trustee and your creditors this is money that should have been going directly to them. The trustee is now suing her ex-husband to collect the money that was transferred to him. Toni is proclaiming her innocence by saying that she did not know that transferring the money was illegal because it was going to pay for personal and business expenses. If there is a fraud in the transferring of money then the debt does not get discharged in the bankruptcy.
If you have questions about bankruptcy please give EH Law Group a call at (415) 230-5388 or visit our website at www.ehlawgroup.com. Our San Francisco bankruptcy lawyers, San Jose bankruptcy lawyers or San Mateo bankruptcy lawyers will be able to assist you. We will discuss your situation and assess what the best option is for you. We look forward to speaking with you soon!