Yet a few more reasons NOT to lie about your assets if you file for bankruptcy:

A federal grand jury in Chattanooga, Tenn., returned a one count indictment on March 22, 2011, against John Daniel O’Neal, 64, of Cleveland, Tenn., for making a false statement in a bankruptcy matter.

O’Neal appeared in court on March 30, 2011, before U.S. Magistrate Judge Carter and entered a plea of not guilty to the charges in the indictment.

He was released pending trial, which has been set for June 7, 2011, in U.S. District Court, in Chattanooga.

The indictment alleges that in or about June, 2010, O’Neal submitted falsified documents in a bankruptcy matter with the intent to influence his bankruptcy plan.

If convicted, O’Neal faces a term of maximum term of 20 years in prison, a $250,000 fine and up to three years of supervised release.

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An Omaha woman has been indicted on charges she lied in bankruptcy filings and to the state.

Angela Richardson could face up to 30 years in prison if convicted of one count of giving false information in her Chapter 7 bankruptcy case and five counts of giving false information to the Nebraska Department of Health and Human Services.

The indictment announced Thursday says the 36-year-old Richardson told the bankruptcy court she didn’t get government assistance even though she got food stamps. The filing also says Richardson, in her food stamps application, claimed she worked in private homes and rented a room but she actually made more than $42,000 a year and owned a home.

Richardson’s attorney wasn’t listed in court records. She’s due in court April 4.

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When claiming bankruptcy, it’s probably best that your story be at least somewhat based in reality. The FBI announced in March 2011, that Diamond District jeweler Shalamu Nisimov has been charged with bankruptcy fraud after claiming a customer failed to pay for $5.6 million in merchandise. That customer didn’t actually exist though. Manhattan U.S. Attorney Preet Bharara said in a statement, “Shalamu Nisimov allegedly tried to pull the wool over the eyes of the bankruptcy court and his creditors by creating, out of whole cloth, a fictional customer and non-existent goods. It appears this was all just a cover for Nisimov’s own fraudulent scheme.” But what a deal he’d get you!

According to the complaint, Nisimov filed Chapter 7 in September 2006, and listed as accounts receivable about nine shipments of jewelry to “Fruntik Makartichiyan” of Armenia worth $5.6 million. Nisimov said on oath that he sent the shipments on credit, and claimed Makartichiyan was an old friend from when the two lived in the Soviet Union. However, the National Security Service for the Republic of Armenia show no such Makartichiyan exists, and Nisimov allegedly kept or sold merchandise that had been provided to him on credit. He faces a maximum of five years in prison