John Pregent Case

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Belleville Woman Guilty of Fraud (February 17, 2012) Stephen R. Wigginton, United States Attorney for the Southern District of Illinois, announced today that Stephanie Reeves, 35, of Belleville, Illinois, has entered a plea of guilty in federal district court on February 17, 2012, to a one count information charging that Reeves committed bankruptcy fraud by falsely claiming that she was in bankruptcy, in order to stop collection efforts by a business to which she owed money. At her plea, Reeves admitted that she utilized the bankruptcy documents of another person by placing her name on the court forms and then sending them to a lender in order to gain benefit of an automatic bankruptcy stay to which she was not entitled. The charges resulted…show more content…
John Pregent, “aka” Jack Pregent, 61, pleaded guilty before United States District Judge George A. O’Toole to one count of bankruptcy fraud involving a scheme to defraud. Sentencing is scheduled for May 15, 2012 at 2:30 p.m. He faces up to five years in prison to be followed by three years of supervised release and a $250,000 fine. Pregent owned the precision machine part manufacturing business Technical Fabrications, Inc. (“TechFab”) which operated in Newburyport until it filed for bankruptcy in July 2010. Pregent engaged in a scheme to defraud TechFab’s creditors, bankruptcy trustee and the bankruptcy court by transferring certain TechFab assets, including equipment and ongoing business, to a newly formed company. Pregent arranged for that new company to pay compensation for TechFab’s assets directly to himself, then filed a Chapter 7 bankruptcy for TechFab to discharge its debts all while concealing the pre-bankruptcy transfer of assets and the agreement to pay compensation for those assets to Pregent. Furthermore, Pregent failed to disclose the transfers and compensation agreement in TechFab’s bankruptcy pleadings and during his testimony before a meeting of…show more content…
Attorney Paul J. Fishman announced. David Findel, 45, of Monmouth County, N.J., was sentenced by U.S. District Judge Peter G. Sheridan in Trenton federal court. He had previously pleaded guilty to an information charging him with wire fraud. According to the information to which Findel pleaded guilty and statements made in Trenton federal court: Findel is the former CEO of Worldwide Financial Resources (“Worldwide”), which was in the business of originating residential home loans. Worldwide worked with borrowers to prepare mortgage applications and qualify the borrowers for home mortgages. Although Worldwide would originate the mortgage loans, after origination, Worldwide would re-sell the loans to another financial institution in the secondary mortgage

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