180 day rule applied to gifts

[cnaples]

What is the name of your state? TEXAS
I filed for chapter 7 in Texas on Dec 13, 2006. On Christmas my sister gave me a check for $12,000.
She knows I have been having a hard time but does know about the bankruptcy. How does the 180 day rule apply to gifts? Should I/can I return her check?
Cnaples
The bottom line is are gifts viewed as winfalls like the lottery etc.?

 

[floridacoast]

Why don't you ask your sister to take he check and withdraw the money as cash. You can use the cash as needed and there will be no record. She can still claim the amount as a family gift as well.

 

[ceara19]

Why don't you ask your sister to take he check and withdraw the money as cash. You can use the cash as needed and there will be no record. She can still claim the amount as a family gift as well.

Maybe because that would be FRAUD!

BANKRUPTCY FRAUD

Bankruptcy fraud is defined as "[a] fraudulent act connected to a bankruptcy case; esp[ecially] any of several proscribed acts performed knowingly and fraudulently in a bankruptcy case, such as concealing assets or destroying, withholding, or falsifying documents in an effort to defeat bankruptcy-code provisions." Black's Law Dictionary 686 (8th ed. 2005). The criminal provisions for bankruptcy fraud are found at 18 U.S.C. §§ 151 et seq. (2005). Very often a defendant charged with committing bankruptcy fraud will also be charged with money laundering under 18 U.S.C. §§ 1956 or 1957. See, for example, United States v. Dennis, 237 F.3d 1295 (11th Cir. 2001); United States v. Butler, 211 F.3d 826, (4th Cir. 2000); United States v. Ladum, 141 F.3d 1328 (9th Cir. 1998); United States v. Levine, 970 F.2d 681 (10th Cir. 1992).

18 U.S.C. § 152 (2005).

The Crime
Under section 152, it is a crime for a person to

* knowingly and fraudulently conceal any property belonging to the estate of a debtor from
o a custodian,
o trustee,
o marshal, or other officer of the court charged with the control or custody of property, or,
o in connection with a case under title 11, from creditors or the United States Trustee; 18 U.S.C. § 152(1) (2005);
* knowingly and fraudulently make a false oath or account in or in relation to any case under title 11; id. § 152(2) (2005);
* knowingly and fraudulently make a false declaration, certificate, verification, or statement under penalty of perjury, in or in relation to any case under title 11; id. § 152(3) (2005);
* knowingly and fraudulently, in a personal capacity or as or through an agent, proxy, or attorney,
o present any false claim for proof against the estate of a debtor, or
o use any such claim in any case under title 11,; id. § 152(4) (2005);
* knowingly and fraudulently receive any material amount of property from a debtor after the filing of a case under title 11, with intent to defeat the provisions of title 11; id. § 152(5) (2005);
* knowingly and fraudulently give, offer, receive, or attempt to obtain any money or property, remuneration, compensation, reward, advantage, or promise thereof for acting or forbearing to act in any case under title 11; id. § 152(6) (2005);
* in a personal capacity or as an agent or officer of any person or corporation, in contemplation of a case under title 11 by or against the person or any other person or corporation, or with intent to defeat the provisions of title 11, knowingly and fraudulently transfer or conceal any of his property or the property of such other person or corporation; id. § 152(7) (2005);
* after the filing of a case under title 11 or in contemplation thereof, knowingly and fraudulently conceal, destroy, mutilate, falsify, or make a false entry in any recorded information (including books, documents, records, and papers) relating to the property or financial affairs of a debtor; id. § 152(8) (2005); or
* after the filing of a case under title 11, knowingly and fraudulently withhold from a custodian, trustee, marshal, or other officer of the court or a United States Trustee entitled to its possession, any recorded information (including books, documents, records, and papers) relating to the property or financial affairs of a debtor. Id. § 152(9) (2005).

A violation of section 152 can be punished by

* a fine, imprisonment for not more than 5 years, or both. 18 U.S.C. § 152 (2005).

And that is for EACH violation.

In the future, please refrain from encouraging or condoning ILLEGAL ACTIVITIES.

 

[cnaples]

180 rule applied to gifts

Does anyone know if money gifts are viewed as winfalls like the lottery etc.?
Any action that even looks like it could be construed as fraud is not an option.

 

[racer72]

Does anyone know if money gifts are viewed as winfalls like the lottery etc.?

You have to disclose any and all income, including gifts.

 

[cnaples]

I know I have to disclose it IF I keep it. My question is. How will the court view it? Are they likely to take it and use it to repay creitors or might I be able to keep it? It would be the only money I have. Thank you in advance for any guidance I can get on these questions.

 

[HighCountry]

Cancelled Check

You can not stop her from cancelling the check and the bank (if you cashed it) undeposits it!! If you did not cash it it will bounce then if you try !

 

[bigun]

You haven't even had your 341 meeting. No way should you risk running $12K through your bank account.
Return the check to your sister or risk losing it to the trustee.

 

[cnaples]

Thank you all for your help. It's a moot point now. I finally told my sister what was going on-she wihthdrew the gift.