Lexington Man Ordered to Serve Prison Time for Bankruptcy Fraud

JACKSON, TN—DAVID E. JAMES, 45 of Lexington was sentenced today by U.S. District Judge J. Daniel Breen to serve six months in prison, followed by six months home detention and  two years of supervised release announced Lawrence J. Laurenzi, United States Attorney for the Western District of Tennessee.

James pled guilty to a one count Information charging him with bankruptcy fraud in violation of Title 18, United States Code, Section 152, on May 1, 2009. The Information charged that James filed a Chapter 13 Bankruptcy Petition in June, 2004 and knowingly concealed assets from the Bankruptcy Trustee by failing to disclose the transfer of livestock and various forms of machines and farm equipment. The property, valued at approximately $110,000.00, was encumbered by liens from First Bank in Lexington, Tennessee and was transferred within twelve months preceding the commencement of the bankruptcy proceedings. The proceeds from the transfer of the livestock and equipment were not remitted to lenders for payment. 

This case was investigated by the Federal Bureau of Investigation. Assistant United States Attorney R. Leigh Grinalds handled the case for the government.

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