Ore. man pleads bankruptcy fraud, hiding gold

[PatColo]

Ore. man pleads bankruptcy fraud, hiding gold (http://www.seattlepi.com/local/6420ap_or_bankruptcy_fraud.html)

Last updated August 24, 2010 12:50 p.m. PT

THE ASSOCIATED PRESS

PORTLAND, Ore. -- An Oregon man has pleaded guilty to bankruptcy fraud, including concealment of gold, silver and ownership of a vintage pickup truck.

Federal prosecutors said 69-year-old Donovan Lindhorst of Gresham had about $82,000 in cash, gold bullion and other assets in a home safe that was found during a court-approved inspection by his bankruptcy trustee.

Lindhorst also concealed transfers of assets to his son totaling $190,000 and $182,000 to his wife. Among his assets were a 1928 Ford Roadster pickup and real estate in Battle Ground, Wash.

Lindhorst was placed in involuntary bankruptcy in October 2007 by the Roofers Local 49 Welfare Fund because he failed to make appropriate contributions to various employee benefit plans.

Sentencing was set for Nov. 8 by U.S. District Judge Michael Mosman.

[joe_momma]

idiot

[Silver Shield]

To bad he didn't have the boating accident...

[mamboni]

idiot


..for getting caught? ;D

[Book]

idiot


http://www.antifascistencyclopedia.com/wp-content/uploads/2010/06/22_fairfax_t210.jpg

Yeah...should of hired a handyman to build concealed precious metal cubbyholes in the walls of his barn like Edgar Steele...lol.

:D

[ShortJohnSilver]

Lindhorst was placed in involuntary bankruptcy in October 2007 by the Roofers Local 49 Welfare Fund because he failed to make appropriate contributions to various employee benefit plans.

Can someone explain this part?

[mamboni]

idiot


http://www.antifascistencyclopedia.com/wp-content/uploads/2010/06/22_fairfax_t210.jpg

Yeah...should of hired a handyman to build concealed precious metal cubbyholes in the walls of his barn like Edgar Steele...lol.

:D


Is this true, about the cubbyholes?

[joe_momma]

History lesson from the Pacific Northwest (BTW - the Seattle Founding Fathers were a staggering group of crooks)

Chief Sealth (Seattle was named after him) was confronted by the local authorities in the mid 19th century - seems a couple of his tribesmen had been caught stealing blankets and he was responsible for determining the punishment.

Chief Sealth ordered the two men hanged.

When asked later about the reason for such a severe punishment for a (relatively) minor crime, his explanation was that the punishment was for being caught (and making him look bad).

*******

This guy was trying to cheat the law and it rather appears he didn't put in the least amount of effort to succeed.

Bad enough he's being dishonest (as defined by our society's laws, though perhaps not by cultural mores), but did not do a decent job at being a crook.

net net, the lower court's ruling stands.

"idiot"

*****

Recommendation - Read "Sons of the Profits: There's no business like grow Business. The Seattle Story 1851-1901" - any number of civic laws were written because of the stunts the founding fathers pulled getting Seattle built.

[zap]

What a dumbsh*t.

[Korbin Dallas]

Lindhorst was placed in involuntary bankruptcy in October 2007 by the Organized Crime Local 49 Welfare Fund because he failed to make appropriate Bribes to various employee benefit plans.

Can someone explain this part?


There, fixed it.

[Twisted Titan]

In a home safe that was found during a court-approved inspection by his bankruptcy trustee.


This is what happens when you sign away your rights and trust that the court is going to "protect" you from your creditors .


NEVER I REPEAT NEVER FILE BANKRUPTCY.

THEY CAN AND THEY WILL KEEP DIGGING UNTIL THEY FIND ALL YOUR GOODIES.

YOU WANT TO KNOW HOW TO SURIVE???

WATCH THE MASTER IN ACTION:





http://www.youtube.com/watch?v=nIoQ6v07hXM&feature=player_embedded


http://www.youtube.com/watch?v=2oedleFAvY0&feature=related

[madfranks]

This guy was trying to cheat the law and it rather appears he didn't put in the least amount of effort to succeed.

Bad enough he's being dishonest (as defined by our society's laws, though perhaps not by cultural mores), but did not do a decent job at being a crook.

net net, the lower court's ruling stands.

"idiot"


From what I read, I don't think the guy's a crook. He was forced into involuntary bankruptcy for not paying the taxes,dues,extortions etc. which were being demanded of him at the time. But I do agree that he was an idiot, because gold and silver is so easy to hide only an idiot would leave them out in the open to be found by the real crooks.

[Twisted Titan]

This guy was trying to cheat the law and it rather appears he didn't put in the least amount of effort to succeed.

Bad enough he's being dishonest (as defined by our society's laws, though perhaps not by cultural mores), but did not do a decent job at being a crook.

net net, the lower court's ruling stands.

"idiot"


From what I read, I don't think the guy's a crook. He was forced into involuntary bankruptcy for not paying the taxes,dues,extortions etc. which were being demanded of him at the time. But I do agree that he was an idiot, because gold and silver is so easy to hide only an idiot would leave them out in the open to be found by the real crooks.



Bottom line that guy is in a shit load of trouble now with the worst possible people AND they know how he will try and protect his holdings in the future.

That is worst of all possible scenarios.


T

[joe_momma]

This guy was trying to cheat the law and it rather appears he didn't put in the least amount of effort to succeed.

Bad enough he's being dishonest (as defined by our society's laws, though perhaps not by cultural mores), but did not do a decent job at being a crook.

net net, the lower court's ruling stands.

"idiot"


From what I read, I don't think the guy's a crook. He was forced into involuntary bankruptcy for not paying the taxes,dues,extortions etc. which were being demanded of him at the time. But I do agree that he was an idiot, because gold and silver is so easy to hide only an idiot would leave them out in the open to be found by the real crooks.



Bottom line that guy is in a sh*t load of trouble now with the worst possible people AND they know how he will try and protect his holdings in the future.

That is worst of all possible scenarios.


T



Sorry for the long quotatage - an addendum -

My guess is that he's an honest businessman who, as the economy tanked, tried to stay afloat by "deferring" required payments (not unlike states who are fudging the mandatory pension contributions).

This action makes sense and (IMHO) does not violate the spirit of the law. I'd do the same thing - do any I could to keep the doors open and hope for a miracle.

Where he got into trouble is declaring bankruptcy, then, "dishonestly" trying to hide the personal assets which he knew ahead of time were at risk. (Don't know the details but I'm guessing he was not shielded by corporate liability - like an LLC.)

Having a business fail and owing creditors is not necessarily a criminal act. Trying (and FAILING) to hide unprotected assets during the bankruptcy is a crime.

[TheNocturnalEgyptian]

They found the gold in his home safe? Is it really that hard to dig a hole?

[AndreaGail]

Federal prosecutors said 69-year-old Donovan Lindhorst of Gresham

interesting name of the town considering some of his stash ;)

[Serpo]

They found the gold in his home safe? Is it really that hard to dig a hole?


What they found maybe just the plant with the main load buried..........I doubt it but who really knows.

[Saul Mine]

A safe is equivalent to a billboard saying "STEAL ME!"

[Book]

idiot


http://www.antifascistencyclopedia.com/wp-content/uploads/2010/06/22_fairfax_t210.jpg

Yeah...should of hired a handyman to build concealed precious metal cubbyholes in the walls of his barn like Edgar Steele...lol.

:D


Is this true, about the cubbyholes?



When asked why Steele would have anything to do with Fairfax, a known drug informant in the northern Idaho area, Dr. Banks added a little more detail about the man known only as “Larry the Plumber” to Steele’s closest friends.

“Ed had him build a new garage with secret compartments, so obviously Larry would have known where they were.”

http://www.free-edgar-steele.com/?p=20

[Olmstein]

If somebody else builds your secret hiding place, how "secret" can it be?