John L. Smith, former head football coach of the Arkansas razorbacks, may be out of the scalding hot spotlight of the SEC media, but he has been unable to stay out of the news, and may be in need of a good criminal bankruptcy fraud attorney.
Smith, who took the helm of the Arkansas football program after the scandal involving Bobby Petrino and his affair with an employee, is now under scrutiny for his well-publicized bankruptcy filing. Some of Smith’s creditors have cried foul over the details of his bankruptcy, claiming that he has fraudulently hidden assets from them. While bankruptcies are filed in this country everyday without much fanfare, Smith’s bankruptcy made national news based on his fame as head of the preseason top-10 football program, as well as the huge amount of debt he reportedly accumulated of up to $40 Million dollars.
It is reported that the United States Department of Justice has even initiated an investigation into whether Smith’s activities constitute criminal bankruptcy fraud, though no charges have been made public at this time. If the federal government does uncover evidence supporting Smith’s creditors claims, it could be bad news for Smith.
Bankruptcy petitions require the filer to affirm under oath that the contents of the petition are accurate. Intentionally including false information (or failure to provide correct information) in a bankruptcy filing is a federal criminal offense that can lead to significant criminal penalties, including potential prison time.