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Collin County man sentenced for bankruptcy-related fraud

SHERMAN, Texas – A McKinney man has been sentenced for bankruptcy-related fraud in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs.

Jacobie Travinski Johnson, 53, was convicted of concealing assets in a pending bankruptcy proceeding and was sentenced to 60 months in federal prison by U.S. District Judge Amos Mazzant on March 19, 2024.

According to information presented in court, Johnson filed a voluntary petition for Chapter 13 Bankruptcy in the Eastern District of Texas.  In order to take advantage of the relief offered through the bankruptcy process, Johnson was required to truthfully disclose his assets, including his accounts at any financial institution, to the bankruptcy court, the trustee, and his creditors.  Instead, Johnson concealed multiple accounts that he owned or controlled.  Johnson also concealed hundreds of thousands of dollars, which were proceeds from fraudulently obtained Paycheck Protection Program loans, that he deposited into the concealed accounts.

The case was investigated by the FBI and prosecuted by Assistant U.S. Attorney Sean J. Taylor.

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