MARQUETTE, Mich. (WLUC) - An Ishpeming business owner is charged with bankruptcy fraud and concealing assets in bankruptcy. The charges against David Louis Vernier were filed in federal court last month, less than three months after his daughter was sentenced for conspiring to defraud financial institutions.
The Verniers were associated with Oasis Fuels Inc., which was supplying fuel to several gas stations in the Upper Peninsula until several months ago.
Brooke Ferns, also known as Brooke Vernier, was sentenced on Feb. 13 to serve 18 months in prison with two years of supervised release.
Federal investigators said Brooke Vernier used a circular check kiting scheme. It gave the appearance the accounts had more money in them than they actually did. The checks were written on the Oasis Fuels Inc. checking account.
David’s charges are similar to his daughter's. He is accused of having devised and intending to devise a scheme and artifice to defraud one or more of his creditors by concealing his income and his property. He filed a voluntary petition for bankruptcy under Title 11 that included false and fraudulent statements and material omissions regarding his income and property.
The felonies are punishable up to five years in prison and/or $250,000 fine or not more than the greater of twice the gross gain or twice the gross loss.
David has been arraigned. He is scheduled for an initial pretrial conference in U.S. District Court in Marquette on June 27.