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Bankruptcy Fraud And The Legal System

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What constitutes Bankruptcy Fraud, how to identify it, and how Bankruptcy Fraud is prosecuted The purpose of establishing the bankruptcy system was to grant financial relief to debtors and also compensation for creditors - a fair and equitable share of remaining assets. As with everything in life, there always were (and will be) the cases where the system was (and will be) manipulated. Naturally, the first question that comes on ones’ mind is - How can this be prevented? A prevention of any criminal acts is a hotly debated topic, however, this is highly speculative area and as such it is not focus of this analysis. Rather, the intention is analysis to show what is a Bankruptcy Fraud, how to identify it, and how the Bankruptcy Fraud is prosecuted. The focus will be on US Bankruptcy Fraud cases and the legal system that deals with them as the most developed legal framework and practical system for dealing with the Bankruptcy Fraud. Because of that many other countries are adopting some of the techniques and practices from US legal system - basically, whether one likes it or not, it provides broad spectrum of cases relevant in contemporary constantly ever more globalized economy. All this, however, does not mean that legislative framework in US criminal and civil law is sufficient enough to deal with ever increasing volume and sophistication of modern day fraud schemes and that all practices can or should be adopted in other countries. Brief History The foundation of

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