A former Mullan, Idaho, woman now living in Oregon is required to pay nearly $50,000 in restitution for concealing property during abankruptcy filing.
The $47,927.95 restitution is the amount Vicki Jean Fehrs, 56, earned from the sale of a property in Mullan she'd transferred to her son before filing for Chapter 7 bankruptcy in U.S. Bankruptcy Court in Idaho in 2006, the U.S. Attorney's Office said today.
After settling the case in 2006, Fehrs sold the property and used some of the money to buy a home in Washington state.
Fehrs failed to disclose the sale proceeds to the trustee or creditors in herbankruptcy case and was charged in U.S. District Court with contempt, a misdemeanor, for disobeying a lawful order of a bankruptcy court.
She pleaded guilty in March and was sentenced Tuesday. She'll be on probation for five years.
WASHINGTON—Fourteen U.S. lenders are on the verge of agreements with federal bank regulators to overhaul their handling of foreclosures and treatment of delinquent borrowers in response to allegations of abuses that emerged last fall.
The regulators are likely to act ahead of state attorneys general, who are also in talks with the banks. Those discussions are moving at a slower pace amid disputes among several state officials.
Bank of America Corp., J.P. Morgan Chase & Co., Wells Fargo & Co. and 11 other home-loan servicers have been under investigation by their regulators and state officials over breakdowns in procedures for handling foreclosures and requests for loan assistance. Several have acknowledged using so-called robo-signers who filed documents to foreclose on homeowners without personally verifying their contents.
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