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Home > Debt Articles > Bankruptcy Information > Gamecock and Former New England Patriot NFL Pro-Bowler Pleads Guilty to Bankruptcy Fraud

Gamecock and Former New England Patriot NFL Pro-Bowler Pleads Guilty to Bankruptcy Fraud

In a bankruptcy case originally filed in 2009 by Rick Sanford, a former USC Gamecock, NFL Pro-Bowler, and New England Patriot, Sanford may face jail time for bankruptcy fraud.

It seems his original bankruptcy documents, were a little bit light on real facts.

Following the discovery of some missing assets from his bankruptcy filing, Sanford was later charged with bankruptcy fraud.

The bankruptcy truste filed documents saying Sanford had neglected to mention the following assets in his filing.


On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had no “cash on hand” and that he had $88.89 in “checking, savings, or other financial accounts, certificates of deposit, or shares in banks, savings and loan, thrift, building and loan, and homestead associations, or credit unions, brokerage house, or cooperatives.”

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had approximately $14,040.82 in his checking account.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had an ownership interest in “household goods and furnishings, including audio, video, and computer equipment” with a current value of $3,690.00.

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had an interest in significantly more “household goods and furnishings, including audio, video, and computer equipment” than that which he disclosed to the Court, and that these items were worth substantially more than the value he placed upon them in his Schedule B.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had no ownership interest in “books, pictures and other art objects, antiques, stamp, coin, record, tape, compact disc, and other collections or collectibles.”

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had an interest in “books, pictures and other art objects, antiques, stamp, coin, record, tape, compact disc, and other collections or collectibles” worth several thousand dollars.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had no ownership interest in “furs and jewelry.”

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had a material interest in “furs and jewelry”, particularly, jewelry.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had an ownership or property interest in “firearms and sports, photographic, and other hobby equipment” totaling $100.00.

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At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had a more extensive interest in “firearms, and sports, photographic, and other hobby equipment” than that which he disclosed to the Bankruptcy Court.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had an interest in “IRA, ERISA, Keogh, or other pension or profit sharing plans” worth approximately $105,000.00 – a 401k with John Hancock.

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had a more extensive ownership or property interest in “IRA, ERISA, Keogh, or other pension or profit sharing plans,” including, but not limited to, an interest in a National Football League pension and an IRA at Woodberry Financial, the latter worth approximately $22,067.60.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Schedule B – Personal Property claiming that he had an ownership or property interest in “stock and interests in incorporated and unincorporated businesses.”

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he had a more extensive ownership or property interest in “stock and interests in incorporated and unincorporated businesses” to include a 20% interest in Bella Voi of Carolina Place, LLC.

On the date that Mr. Sanford filed for bankruptcy relief, he filed with the Bankruptcy Court under penalty of perjury a Statement of Financial Affairs. Mr. Sanford stated “None” as his response to the inquiry “14. Property held for another person.”

At the time Mr. Sanford filed for bankruptcy relief, he knew or should have known that he was holding significant property for others, including, his former spouse, Sherrie Sanford, and a girlfriend, Stephanie Brimm.

At the continued meeting of creditors held on April 9, 2009, the trustee asked for and received permission from Mr. Sanford to view and to inventory the property located at his residence in Chapin, South Carolina.

At the same time on April 9, 2009, that Mr. Sanford was granting permission to the trustee to review his property, he knew or should have known that he was actually having significant personal belongings at his Chapin residence moved by a professional moving company to a location other than his residence or condominium. Mr. Sanford, with fraudulent intent or with a reckless disregard for the truth, failed to inform the trustee that many of the properties he owned or which he held for others would no longer be located at his residence for review (inventory and/or appraisal) by the trustee, her auctioneer, or other agent.

Mr. Sanford, with the intent to defraud the Court, the chapter 7 trustee, creditors, and other parties in interest, or, with reckless disregard for the truth, failed to disclose the information discussed above and engaged in the misconduct detailed in this complaint. – Source


According to The State, “Sanford, 54, could be sentenced to five years in federal prison, a $250,000 fine and three years of supervised release, according to the plea agreement. Dates for the formal guilty plea and the sentencing have not been set.”

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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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