Ex-lawyer Gets Jail in Bankruptcy Fraud

A former Wakefield, Mass., lawyer was sentenced Tuesday to three years in prison for failing to disclose winning lottery tickets he had purchased to a bankruptcy trustee and for filing a false tax return.

James Gregson, 40, bought two $1 million winning tickets prior to filing for bankruptcy in 2005.  Prosecutors in U.S. Attorney Carmen Ortiz’s office said Gregson failed to disclose the value of those tickets to the trustee handling the case.

After the trustee was tipped off, prosecutors said, Gregson lied about the tickets’ origin, saying his parents had paid for them.

In addition to ordering jail time, U.S. District Judge George A. O’Toole required that Gregson pay $790,000 in restitution to creditors in the bankruptcy case and $233,000 to the federal Internal Revenue Service.

Ortiz’s office said the winning tickets were a “Windfall” ticket that paid $35,000 a year after taxes and 15 installments of a “Bonus for Life” ticket that paid $35,000 a year after taxes.

via Ex-lawyer gets jail in bankruptcy fraud | Boston Business Journal.

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