Los Angeles Bankruptcy Lawyer Pleads Guilty To Providing False Information In Two Bankruptcy Petitions

A bankruptcy attorney who authored books on bankruptcy and claimed to be a frequent speaker on the topic pleaded guilty today to two counts of making false statements in bankruptcy. 

 Lloyd M. Segal, 55, of Marina Del Rey, a name partner in the Los Angeles firm of Segal & Sablowsky, which Segal says focuses on “real estate law with special emphasis in foreclosure and bankruptcy-related matters,” pleaded guilty to using false social security numbers, a false name and other false information in his bankruptcy filings. Segal, who wrote Stop Foreclosure Now in California and Everything You Wanted to Know about Chapter 11 Bankruptcy...but Were Afraid to Ask, claims on a book jacket to be an “informative and exciting public speaker with 15 years of professional experience in real estate law. He is a frequent guest lecturer at UCLA, USC, the Los Angeles and Orange County Bankruptcy Forums, boards of Realtors and numerous other real estate and service organizations.”
 According to a plea agreement filed laSt month in United States District Court in Los Angeles, Segal filed bankruptcy cases in 1998 and in 2000 using false social security numbers. In those bankruptcies, he also provided false information about his previous bankruptcy filings. In his 2000 bankruptcy, Segal also used a false name in his bankruptcy filing.

 The use of false names and social security numbers in bankruptcy filings is a significant problem in United States Bankruptcy Court for the Central District of California, which is the nation’s busiest bankruptcy courts. It damages the credit records of innocent victims and creates an inaccurate official Bankruptcy Court record. The United States Trustee’s Office, which is an arm of the Justice Department and is responsible for overseeing all bankruptcy filings in the nation, now requires a photo identification card and the social security number of every debtor when they attend the required meeting of creditors.
 Segal pleaded guilty before United States District Judge Edward Rafeedie, who is scheduled to sentence the defendant on June 16. At that time, Segal faces a maximum possible sentence of 10 years in federal prison and a $500,000 fine.
 The case against Segal was investigated by the Federal Bureau of Investigation, the United States Postal Inspection Service, and the Office of Inspector General for the Social Security Administration. Those agencies received the assistance of the United States Trustee’s Office.

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