| Dr. Jack Holladay Accused of Perjury and Fraud by Bankruptcy Trustee |
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Page 3 of 3 IV. GROUNDS FOR DENYING DISCHARGE 18. Pursuant to 11 U.S.C. § 727(a)(2) Debtor should be denied a discharge because Debtor has, with the intent to hinder, delay or defraud a creditor or an officer of the estate charged with custody of property under this title, transferred, removed, destroyed, mutilated or concealed property of the Debtor within one year of the date of filing bankruptcy as set forth above. 19. The Court should deny Debtor's discharge under 11 U.S.C. § 727(a)(5) because the Debtor has failed to adequately explain the loss of assets or deficiency of assets to meet his liabilities. Debtor has not maintained sufficient records to adequately explain his business transactions such that the Trustee and his creditors may conduct a meaningful review of Debtor's assets. Debtor testified at his 341 meeting that his wife was in charge of tracking income and expenses for his household. Mrs. Holladay testified at her 2004 exam that she obtained a number of certified checks from Debtor's accounts because of their concern that HEA would freeze these accounts in satisfaction of their judgment against Debtor. Mrs. Holladay was unable to give reasonable explanations as to where significant amounts of cash withdrawn from Debtor's various accounts had gone. Documents produced by Debtor refer to a separate account number with Paine Webber that has yet to be identified. 20. The Court should deny Debtor's discharge under 11 U.S.C. § 727(a)(4)(A) because the Debtor knowingly and fraudulently, in or in connection with the case made a false oath or account. 21. On April 29, 2003, Debtor knowingly and fraudulently made false oaths when Debtor testified that his Schedules were true and correct. It was only when Mrs. Holladay admitted that Debtor owns a number of significant assets he did not identify in his Schedules which he signed under penalty of perjury, and provided information that other assets were likely significantly undervalued. 22. Debtor knowingly and fraudulently signed and executed his Schedules that excluded a number of items of substantial value and otherwise contained incorrect information. Debtor further made false oaths at the 341 Meeting of Creditors when he testified that his Schedules were true and correct and when he testified that his Schedules were true and correct and when he testified under oath that everything at his Bellaire home was about eleven years old and he had nothing there of any value. 23. Based on the foregoing, Debtor knowingly and fraudulently, in or in connection with the case made a false oath or account. Such a false oath is sufficient to deny Debtor's discharge. Accordingly, Debtor should be denied his discharge under 11 U.S.C. § 727(a)(4)(A). 24. In joining this Complaint, the Trustee is relying on the information and facts that were obtained by HEA in the Debtor's wife's 2004 examination and documents produced in connection with the Debtor's noticed 2004 examination and documents produced in connection with the Debtor's noticed 2004 examination. The Trustee believes that it is unusual for the Debtor to have so little personal property in comparison to the high income and expensive real estate properties owned in Florida and Bellaire, Texas. The Trustee believes that the Debtor should not be granted a discharge until his Court authorized appraiser has had an opportunity to inspect the Debtor's homes and prepare her report to the Trustee. The court recently entered an order that authorized the Trustee to employ his appraiser. PRAYER WHEREAS, PREMISES CONSIDERED, William West, Chapter 7 Trustee and HEA Clinic, P.A. respectfully request that the Court deny Debtor's discharge for the reasons stated herein and for such other and further relief to which it may be entitled.
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