Tri-State Man Accused Of Hiding Funds Prior To Bankruptcy

POSTED: 9:42 am EST January 20, 2011

http://www.wlwt.com/r/26556404/detail.html

CINCINNATI -- A local golf course and real estate developer has been indicted on several federal charges.

Michael R. Macke, 61, of Cincinnati has been charged with bankruptcy fraud, perjury, and money laundering in a 10-count indictment returned by a federal grand jury.

The indictment alleges that Macke transferred approximately $471,462.70 in funds in May 2007, prior to filing bankruptcy in November 2007. In his bankruptcy filing, he sought discharge of $35,656,197.42 in debts owed to his creditors.

The indictment charges Macke engaged in a scheme to defraud his creditors and the bankruptcy court by transferring the money to purchase Elks Run Golf Course in Batavia, the ownership of which was then transferred into a trust he established for the benefit of his wife. The indictment charges that Macke made these transfers in contemplation of bankruptcy, and that he failed to disclose the transfers or the trust in his bankruptcy case.

The indictment further charges Macke with lying under oath at a meeting of creditors in his bankruptcy case by denying knowledge of the trust and other matters relating to the Elks Run Golf Course purchase.

The indictment charges Macke with four counts of bankruptcy fraud. Each of those crimes is punishable by up to five years in prison, a fine of up to $250,000 or twice the gain or loss, and three years of supervised release. The indictment also charges Macke with five counts of money laundering, each of which is punishable by up to ten years in prison, a fine of up to $250,000 or twice the gain or loss, and three years of supervised release.

The indictment also seeks forfeiture of $471,462.70 which represents the value of the fraudulent transfers.

Macke will be summoned to appear before U.S. Magistrate Judge Stephanie K. Bowman for an initial appearance on Wednesday, January 27, 2011 at 1:30 p.m.