Bankruptcy is a serious decision in anyone’s life. Therefore, it is important to understand that certain violations of the bankruptcy code are federal offenses.

A person commits a federal offense under 18 USC Section 152 if she conceals assets or bribes and makes false statements in connection with a bankruptcy proceeding. Basically, if a person knowingly and fraudulently conceals assets or fraudulently makes a false oath in relation to the bankruptcy case, she violates Section 152. The oath false oath must be pertinent to a material matter of the case.

Regarding the concealment of assets, the statute of limitations does not begin to run until debtor is discharged from the bankruptcy or until she is denied a discharge.