Bridgeport Man Pleads Guilty To Bankruptcy Fraud Charge: Feds

BRIDGEPORT, CT — A Bridgeport man has pleaded guilty to a bankruptcy fraud charge, according to a statement from federal prosecutors. Anthony Faustini, 57, waived his right to be indicted and pleaded guilty to make a false statement under oath in a bankruptcy matter.

Faustini filed a personal Chapter 7 bankruptcy petition in the U.S. Bankruptcy Court for the District of Connecticut in 2018. In the petition, Faustini noted that his unpaid debts were approximately $86,862, according to prosecutors.

However, Faustini failed to disclose to the court that he knew that he was the beneficiary of a $100,000 life insurance policy held against the life of his mother. Nine days later, on March 21, 2018, Faustini’s mother passed away.

In April 2018, Faustini testified under oath regarding his bankruptcy petition. Faustini falsely indicated that he had listed all items of value in his petition, and he failed to mention his vested interest in the $100,000 life insurance policy, prosecutors said.

In response to a specific question as to whether “anybody died and left you any money,” Faustini responded “No.”

In June 2018, Faustini claimed a $100,246 check sent by the life insurance company.

During a deposition at that time, prosecutors claimed Faustini made several false statements, including that he had not known about the life insurance policy when he filed his bankruptcy petition, that he did not find out about the policy until he received the check, and that he did not know how the insurance company knew to send the check to his address.

He will be sentenced Feb. 25, 2021, and faces a maximum prison term of five years. Faustini also has agreed to pay restitution of $64,955, which accounts for funds collected from him after the fraud was identified.