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January 26, 2007
LOCAL SUGARLAND ATTORNEY INDICTED FOR BANKRUPTCY FRAUD
HOUSTON, TX – A Federal Grand Jury has charged Sugarland, TX attorney with bankruptcy fraud, United States Attorney Don DeGabrielle announced today.
Jose Antonio Villalon, 58, a resident of Sugarland, TX, has been charged in a three count indictment with bankruptcy fraud arising from a scheme he allegedly devised to conceal assets and defraud a Trustee appointed to oversee the administration of the bankruptcy estate and his creditors. The indictment was returned by a federal grand jury in Houston on Wednesday, January 24, 2007. Notified of the outstanding warrant for his arrest, Villalon turned himself at the federal courthouse this morning. At a hearing this morning before U. S. Magistrate Judge Mary Milloy, Villalon was arraigned and ordered released on bond upon depositing $5,000 into the registry of the court. Trial is set for March 19, 2007.
According to allegations in the indictment, Villalon, an attorney who claimed to be an expert in land title law, oil and gas law and real estate law, filed for bankruptcy and devised a scheme to defraud the Trustee appointed to oversee his bankruptcy by concealing his interest in an oil and gas well called the “Gilfillian Interest” located in Jefferson County, TX. The Gilfillian Interest was a productive oil and gas well and had a value in excess of several million dollars. Villalon is accused of not listing his interest in the Gilfillian Interest, which he had purchased approximately two weeks before filing for bankruptcy, in any of the bankruptcy schedules and statements of financial affairs he filed with the United States Bankruptcy Court. Nor did Villalon disclose to the Bankruptcy Court or the Trustee that he receive approximately $360,000 from leasing the Gilfillian Interest to a local Houston oil and gas exploration company within days of filing for bankruptcy, according to the indictment. Villalon allegedly created sham companies and used his relatives to conceal his true ownership interest in the Gilfillian oil and gas well.
The second and third counts of the indictment accuse Villalon of concealing his ownership interest in the Gilfillian Interest oil and gas well, and concealing the $360,000 he received from leasing the Gilfillian Interest oil and gas well, respectively.
Each count of the three count indictment carries a maximum penalty of five years imprisonment, without parole, and a $250,000 fine, upon conviction.
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