Bossier City Man Pleads Guilty to Bankruptcy Fraud

A Bossier City man pleads guilty to concealing his business' assets during bankruptcy proceedings.

U.S. Attorney Stephanie Finley says 43-year-old John Santoro filed for Chapter 7 bankruptcy protection on May 20, 2011, as the owner of Santoro's Catering. He had a third party sell a 2007 Dodge Ram 3500, which belonged to the business, and also sold some of the company's catering equipment.

Santoro failed to disclose the existence of the truck and equipment to the bankruptcy trustee or list it on his bankruptcy petition.

He faces a maximum of five years in prison, three years of supervised release and a $250,000 fine. He'll be sentenced July 6, 2015.