May 23, 2005
A Scottsdale resident who filed for Chapter 13 bankruptcy protection multiple times over six years to dodge creditors was found guilty May 13 by a federal jury on nine counts of fraud.
Prosecutors allege Andrew Taylor, 51, manipulated the bankruptcy court as he concealed a $400,000 Bede BD-10 jet aircraft, according to a release from the U.S. Attorney’s Office in Phoenix. Taylor also owned a share of Automotive Investment Solutions, a Scottsdale business.
A call to the business was not returned.
Prosecutors said Taylor maintained a secret bank account that allowed him to move several hundred thousand dollars to purchase the BD-10, another aircraft and other property.
Each of the six times Taylor filed for bankruptcy from 1998 to 2004, he failed to disclose his previous bankruptcies, the release states.
Sandy Raynor, a spokesman for the U.S. Attorney’s Office, did not return calls for comment.
Taylor was convicted on four counts of bankruptcy fraud, four counts of false declarations in a bankruptcy proceeding and one count of concealing assets in a bankruptcy proceeding, according to the release.
Each of the nine counts carries a maximum penalty of five years in prison, a $250,000 fine or both.
Taylor’s sentencing is scheduled for Aug. 18.