Bankruptcy Fraud Resource Center | Wayne D. Holly, P.C.

Real Estate Agent Convicted of Concealing Accounts, Wire Transfers and Automobiles

Arvel "Ray" Henderson II, a real estate agent, was convicted this week of theft of public money, concealment of assets, and bankruptcy fraud in the Northern District of Ohio.  Henderson was registered as a Section 8 landlord with the Lucas County Metropolitan Housing Authority and received rents from the LCMHA in connection with certain properties.  He transferred one of the properties but continued to receive rents to which he was not entitled for three years, defrauding LCMHA of approximately $22,589.

Later, Henderson filed a chapter 7 bankruptcy petition.  According to this press release, he failed to disclose three bank accounts, a variable annuity account, $499,980 in wire transfers, $20,000 in loaned funds, a 2004 BMW, and a 2014 Jeep Grand Cherokee.  The case was investigated by the Federal Bureau of Investigation and the Department of Housing and Urban Development.  Henderson is scheduled to be sentenced on December 20.

OATH Corporation CEO Sentenced Following Guilty Plea to Bankruptcy Fraud

U.S. District Judge Roy B. Dalton, Jr. has sentenced David Martin “Marty” Golloher to three years in federal prison for wire fraud, tax fraud, and bankruptcy fraud, according to a press release from the U.S. Attorney's Office.

Golloher had pleaded guilty on August 30, 2019.

According to court documents and evidence presented during the sentencing hearing, Golloher was the President and Chief Executive Officer of OATH Corporation, a bullet-manufacturing company based in Brevard County. In that capacity, Golloher recruited individuals to invest significant sums of money in OATH Corporation. He defrauded one investor of nearly $70,000 by embezzling funds intended for corporate use. Golloher defrauded another individual of more than $40,000 by convincing him to purchase the rights to an “exclusive distributorship” that did not actually exist.

In addition, for six quarters in 2015 and 2016, Golloher collected payroll taxes on behalf of OATH Corporation employees, but failed to pay over that tax to the Internal Revenue Service. Golloher also failed to pay over OATH Corporation’s payroll tax obligations, resulting in a total tax loss of more than $458,000.

Eventually, Golloher filed for bankruptcy on behalf of OATH Corporation. During the course of the bankruptcy proceeding, Golloher knowingly made a false declaration, understating the amount of compensation and personal expenses he had received from OATH Corporation. Golloher admitted that he did so with the intent to deceive OATH Corporation’s creditors, the bankruptcy trustee, and the bankruptcy judge.