Fraudulent Bankruptcy: Plea Bargaining and Opportunities

Introduction to Fraudulent Bankruptcy

Fraudulent bankruptcy is a serious crime that involves the destruction or concealment of assets to avoid paying debts. In Italy, this type of bankruptcy is regulated by the Penal Code and represents a fraudulent act committed by someone, as an entrepreneur or manager of a business, who attempts to deprive creditors of resources.

Plea Bargaining: A Possible Alternative

Plea bargaining, or application of the penalty at the request of the parties, is a procedure that allows avoiding a lengthy and costly trial. For the crimes of fraudulent bankruptcy, it is possible to access plea bargaining if certain conditions are met.

Conditions for Plea Bargaining

• No aggravating recidivism: the defendant must not have specific criminal records of a certain severity.
• Cooperation: demonstrating a collaborative attitude can facilitate access to plea bargaining.
• Repair of damage: the attempt to compensate the harmed creditors can be a favorable element.

Practical Example

Imagine an entrepreneur who, finding himself in financial difficulties, moves part of his personal assets to prevent them from being used to cover business debts. Discovered by the authorities, the entrepreneur decides to cooperate and partially compensate the creditors. In this scenario, it may be possible to request plea bargaining, thus avoiding a harsher sentence.

Conclusion

Understanding the dynamics of plea bargaining for the crime of fraudulent bankruptcy is essential for those in complex legal situations. If you find yourself in a similar situation or simply want to know more, contact the Bianucci Law Firm. Our team of experts is ready to provide you with the legal assistance you need.