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McKinney, Texas News

McKinney Man Sentenced to 60 Months for Bankruptcy Fraud

A McKinney man, Jacobie Travinski Johnson, 53, has been sentenced for bankruptcy-related fraud in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs.

Johnson was convicted of concealing assets in a pending bankruptcy proceeding and was sentenced to 60 months in federal prison by U.S. District Judge Amos Mazzant on March 19, 2024.

According to information presented in court, Johnson filed a voluntary petition for Chapter 13 Bankruptcy in the Eastern District of Texas. Instead of truthfully disclosing his assets, including accounts at any financial institution, Johnson concealed multiple accounts he owned or controlled. He also hid hundreds of thousands of dollars, proceeds from fraudulently obtained Paycheck Protection Program loans, by depositing them into the concealed accounts.

The case was investigated by the FBI and prosecuted by Assistant U.S. Attorney Sean J. Taylor.

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