ARIZONA NEWS

Scottsdale lawyer sentenced, fined for bankruptcy fraud

Dec 6, 2018, 5:45 AM | Updated: 3:55 pm
(Pixabay Photo)...
(Pixabay Photo)
(Pixabay Photo)

PHOENIX – A Scottsdale lawyer was sentenced to 18 months in prison and fined nearly $1.4 million after pleading guilty to bankruptcy fraud earlier this year.

On April 20, Scott Allan Maasen pleaded guilty to one count of concealment of assets in bankruptcy, a Class D felony, the Office of the United States Attorney said Wednesday in a press release.

His sentence, which was handed down on Nov. 13, includes three years of supervised release after the prison term.

According to U.S. District Court documents, Maasen also was ordered to forfeit a residence in the ritzy Silverleaf neighborhood in north Scottsdale. The house near Thompson Peak Parkway and Horseshoe Canyon Drive is on the market for $1,595,000, according to Realtor.com.

According to the release, Maasen filed for bankruptcy in 2009 after he stopped making payments on a $1.5 million loan guaranteed by the Small Business Administration.

He admitted to buying a $90,000 engagement ring for his fiancée during the bankruptcy proceedings and didn’t disclose it, the release said.

He masked the purchase by using credit card and bank accounts in his father’s name.

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Scottsdale lawyer sentenced, fined for bankruptcy fraud