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Idaho Falls man sentenced to federal prison for concealing assets in bankruptcy proceeding
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The following is a news release from U.S. Attorney’s Office for the District of Idaho.
POCATELLO – Andrew Welch, 46, of Idaho Falls, was sentenced in U.S. District Court to five years in federal prison for concealment of assets, U.S. Attorney Bart M. Davis announced today. Chief U.S. District Judge David C. Nye also ordered Welch to pay a $25,000 fine, and to serve one year of supervised release following his prison sentence. Welch pleaded guilty to the charge on July 29, 2020. As part of the plea agreement, Welch also agreed to forfeit $25,000.
Idaho Falls man sentenced for fraud
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POCATELLO, Idaho (KIFI/KIDK)-An Idaho Falls man was sentenced Tuesday to five years in federal prison and ordered to pay a $25,000 fine for concealment of assets.
U.S. Attorney Bart Davis said Andrew Welch, 46, was a former pharmacist in Ketchum who filed a voluntary Chapter 7 bankruptcy petition on April 3, 2014 after the state Board of Pharmacy revoked his license.
In a bankruptcy petition, Welch listed significant debts and almost no assets. According to court records, the scheme to defraud unraveled when the U.S. Trustee Program and debtors discovered Welch had an interest in significant unreported assets, which he had placed under the control of close confidants.
Idaho Falls Man Sentenced to 5 Years for Knowingly and Fraudulently Concealing Assets in Bankruptcy Proceeding justice.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from justice.gov Daily Mail and Mail on Sunday newspapers.
POCATELLO â Andrew Welch, 46, of Idaho Falls, was sentenced in U.S. District Court to five years in federal prison for concealment of assets, U.S. Attorney Bart M. Davis announced Tuesday.
Chief U.S. District Judge David C. Nye also ordered Welch to pay a $25,000 fine, and to serve one year of supervised release following his prison sentence. Welch pleaded guilty to the charge on July 29, 2020. As part of the plea agreement, Welch also agreed to forfeit $25,000.
According to court records, Welch, a former pharmacist in Ketchum, Idaho, filed a voluntary Chapter 7 bankruptcy petition on April 3, 2014, after the Idaho State Board of Pharmacy revoked his pharmacist license. In the bankruptcy petition, signed under penalty of perjury, Welch listed significant debts and almost no assets.