Minocqua man gets three years probation for bankruptcy fraud

A 57-year-old Minocqua man who pled guilty to bankruptcy fraud earlier this year was sentenced on July 6 by Chief U.S. District Judge James D. Peterson to three years probation and a $1,000 fine.

According to a press release issued by the office of U.S. Attorney Timothy O’Shea of the U.S. Department of Justice’s Western District of Wisconsin Office, in pleading guilty, Bruce Polczynski admitted that he lied to the U.S. Bankruptcy Trustee about assets so they would not be used to pay creditors.

Specifically, Polczynski lied to conceal a 1969 Dodge Charger replica of the “General Lee” from the “Dukes of Hazard” CBS television series and a 1979 Pontiac Firebird Trans Am.  

The press release stated  that O’Shea “noted that Polczynski’s deception was quickly discovered and the vehicles were sold to pay creditors.”

“Polczynski’s story, where he was quickly stripped of the assets he tried to hide, suffered the embarrassment of federal prosecution and received a felony conviction, is a compelling cautionary tale for anyone considering bankruptcy fraud,” O’Shea said.  

In imposing sentence, Peterson noted that the bankruptcy system — like many government institutions — ”depends critically on the honesty” of those who engage with it.

While three years of probation was the “just sentence” given Polczynski’s health and financial circumstances, Peterson said, a prison term may be required in other bankruptcy fraud cases to “amplify” the general deterrence message.