Archive for January, 2012

Court Dismisses Bankruptcy after Showing of Misconduct

Saturday, January 7th, 2012

Sergio Garcia has employed many different companies to further his criminal activities and defraud his creditors.   According to court filings by creditor Arthur D. Pringle III, Garcia and his wife used one of those companies, Kerusso Real Estate, LLC, to funnel funds for a Ponzi scheme.  Pringle and other creditors sued, but Garcia put Kerusso Real Estate LLC into bankruptcy and then engaged in further illegal activities.  After discovering this wrongdoing, Garcia’s creditors obtained a dismissal of the bankruptcy that included an order forever barring Kerusso Real Estate LLC  from filing for bankruptcy for itself or any of the properties that it owns.  Exhibit 1 A dismissal of this nature is very rare and only issued after a showing of serious misconduct.