WILLIAMSPORT — The United States Attorney’s Office for the Middle District of Pennsylvania announced that Andrew Lee Coleman, 65, of Osceola Mills, was charged in a criminal information on Aug. 13, for concealment of assets and false statements in bankruptcy proceedings.
According to United States Attorney David J. Freed, the indictment alleges that Coleman, owner of Coleman’s Asphalt, 87 Curtin St., Osceola Mills concealed more than $380,000 in cash and a 1968 Camaro SS that he transferred to his daughter in connection with a bankruptcy action that he filed. The report states that Coleman also owned a car wash.
He is charged with concealing the assets in monthly reports and other statements filed with the trustee responsible for the debtor’s property and from the creditors and the United States Trustee.
According to the report, the transfer occurred 11 months before he and his former wife filed a voluntary bankruptcy petition arising from the default on approximately $2 million in loans used to build a bowling alley he and a business partner operated.
Between October 2015 and December 2016, Coleman allegedly concealed from the bankruptcy trustee ownership the transfer of the car and the $380,000.
The money was kept in safes at his asphalt business and inside of the Camaro parked in a garage next to his home, the charge alleges.
He kept two sets of keys despite transferring ownership of the car, according to the report.
Coleman also is accused of filing false statements with the petition including a statement that said he had no cash on hand and about $7,405 in four different banks.
He listed vehicles used in his businesses and two personal vehicles, but nothing about the Camaro.
He also is accused of filing false monthly reports between October 2015 and September 2016 that under-reported cash on hand and profits from his businesses.
According to the report, after the alleged fraud was discovered, Coleman filed amended reports disclosing more than $160,000 in cash.
Coleman signed a plea agreement that requires him to make full restitution and cooperate with the Internal Revenue Service.
The maximum penalty for concealment of bankruptcy assets is five years in prison and a $250,000 fine.
The criminal information also charges Coleman with one count of concealment of bankruptcy assets and 11 counts of making false declarations in connection with the bankruptcy action.
The case was investigated by the Federal Bureau of Investigation and the Office of the United States Trustee for the Middle District of Pennsylvania. Assistant U.S. Attorney George J. Rocktashel is prosecuting the case.
Criminal Informations are only allegations. All persons charged are presumed to be innocent unless and until found guilty in court.
A sentence following a finding of guilt is imposed by the Judge after consideration of the applicable federal sentencing statutes and the Federal Sentencing Guidelines.
The maximum penalty under federal law for this offense is five years of imprisonment, a term of supervised release following imprisonment, and a fine.