Tag Archives: bankruptcy news

Married Couple From Washington Charged for Bankruptcy Fraud and Money Laundering

(Source: FBI) – SEATTLE—A federal grand jury in Seattle today retuned a 43-count indictment charging MICHAEL MASTRO, 87, and his wife LINDA MASTRO, 62, with a variety of bankruptcy fraud crimes and multiple counts of money laundering, announced First Assistant United States Attorney Annette L. Hayes. The couple was arrested yesterday in France on a […]

Fewer People Filing for Bankruptcy in Orlando Raises Hope of Improving Economy

(Source: Richard Burnett The Orlando Sentinel, Fla. (MCT) — After falling last year for the first time since the start of the Great Recession, the number of people declaring bankruptcy in the Orlando area has continued to decline so far in 2012, raising hopes that the pace of going broke has been broken.

Struggling Parent Company Pushes ResCap Into Chap. 11

(Source: Jennifer Bjorhus Star Tribune, Minneapolis (MCT) — Fallen subprime mortgage lender Residential Capital filed for bankruptcy protection Monday as parent Ally Financial Inc., an auto lender that is majority-owned by U.S. taxpayers, struggles to pay back its $17.2 billion bailout.