Proprietor of native power service corporations indicted for chapter fraud | USAO-WDLA



SHREVEPORT, La. – Appearing in america Lawyer Alexander C. Van Hook has introduced {that a} federal grand jury has issued an indictment accusing a businessman from Shreveport, Michael Ray Carr, Jr., 39 years outdated, with concealment of property from the chapter property.

Based on the indictment, Carr was the only real and principal proprietor of PADCO Power Providers, LLC (“Energie”), and 60% the proprietor of PADCO Strain Management, LLC (“Strain”), the 2 corporations being primarily oilfield providers. On October 4, 2016, Power and Strain filed for Chapter 11 chapter. The chapter paperwork had been signed by Carr and licensed underneath penalty of perjury that the data they contained was true and proper.

The indictment alleges {that a} chapter court docket listening to was held on September 12, 2017, wherein Strain and Carr agreed at hand over the property’s property, oilfield gear, to the trustee chapter. Nonetheless, on October 5, 2017, Strain’s Chapter 11 trustee filed a petition within the chapter proceedings, claiming that Strain and Carr had not delivered the property of the property. On December 1, 2017, an settlement between Strain, Power, Carr and the collectors was reached and a consent order was authorised by the chapter court docket stating that the Chapter 11 trustee may safe all of the gear talked about within the order.

It’s additional alleged within the indictment that Carr knowingly and fraudulently withheld property for Strain and Power which belonged to the chapter property, from the Chapter 11 trustee in control of monitoring the debtor’s property, from the collectors. and america Trustee.

An indictment is solely an indictment and an accused is presumed harmless except and till their guilt is established past an affordable doubt.

The FBI is investigating and Assistant US Lawyer Tennille M. Gilreath is pursuing the case.

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