A federal judge today sentenced Melissa Stamp to 20 months imprisonment for her role in a bankruptcy fraud involving the concealment of cash and other assets. Stamp was indicted October and pled guilty in December. Stamp and her husband, Michael Stamp, owned Stamp Farms and Northstar Grain, LLC, two Decatur businesses that filed for bankruptcy in 2012 after securing more than $65 million in financing from Wells Fargo Bank.
Stamp admitted in a guilty plea to hiding cash by giving $75,000 to her brother and $90,000 to her father to conceal the money from the bankruptcy court and trustee. She also acknowledged hiding $50,000 in a home safe. Prosecutors also accused Stamp of receiving $30,000 worth of promotional assets from corporate customers without telling the bankruptcy court. Stamp was sentenced to 20 months of supervised release following her prison term and to make restitution in the amount of $184,500.
