A 54-year-old former Machesney Park man has been charged with bankruptcy fraud in federal court.
Robert J. Yonkee Jr. was indicted Tuesday. Yonkee, who now lives in Lake Geneva, is accused of fraudulently concealing property when he filed a Chapter 7 Bankruptcy Petition on September 15, 2008.
Yonkee is specifically accused of hiding his ownership interest in a business that sold auto parts, cars, and motorcycles; the United States Super Truck Racing Series; Bobby Yonkee Racing; and other inventory, merchandise, capital, vehicles, and motorcycles from the bankruptcy trustee, creditors, and the United States Trustee.
He is also accused of making false statements on a bankruptcy schedule and a Statement of Financial Affairs, which were both filed under the penalty of perjury. Yonkee has also been charged with making material false statements while under oath during a meeting with creditors.
Each charge against Yonkee has a maximum penalty of five years in prison and a fine of up to $250,000, or twice the gross gain or gross loss, whichever is greater. A sentence of one to five years probation and supervised release of up to three years may also be imposed.
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