Bankruptcy Trustee Charged with Fraud

In a surprising turn of events a bankruptcy trustee and court-appointed receiver has been charged with felony fraud.

Marika Tolz has been accused of misappropriating $16 million from several court cases, which equals about $2.4 million to the concerned parties. The missing funds and fraud has been disclosed as part of the mid-2010 civil investigations into her case. As a result Tolz has been removed from a federal panel of bankruptcy trustees.

She is not the only one to be slapped with felony misappropriation of money charges. Lewis B. Freeman was also pleaded guilty and was sentenced to prison just last year. As for Tolz her fraudulent activities began in 2003 when she began to use funds for her personal use. This is different from Freeman and others like Ponzi who created different schemes to steal money.

Have you been involved in a Chapter 7 bankruptcy filing but think that something has gone wrong? Contact us now to speak with a San Antonio bankruptcy lawyer about your options.