FTC Says Telemarketer's Ch. 11 Is Sham To Avoid $113M Fine

Law360, New York (December 5, 2012, 9:39 PM EST) -- The Federal Trade Commission on Tuesday urged a federal court to dismiss a get-rich-quick real estate business owner's Chapter 11 case, agreeing with a U.S. trustee that the California man filed in bad faith to avoid paying the agency $113 million in fines.

The FTC's filing backed U.S. Trustee Barbara Matthews' Nov. 15 motion, which urged the court to either dismiss or convert John N. Beck's bankruptcy to a Chapter 7 case on the grounds that he was using Chapter 11 merely as a shelter against...
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