Posted on 06/04/2009 5:44:33 PM PDT by Larry381
OKLAHOMA CITY, OK—A federal grand jury has charged KIRBY LYNN KYLES, 49, of Oklahoma City, with bankruptcy fraud, money laundering and loan fraud, announced John C. Richter, United States Attorney for the Western District of Oklahoma.
According to the indictment, Kyles owned and operated Metro Builders, Inc., a home construction business which filed bankruptcy in 2007 (In re: Metro Builders, Inc., Case No. 07-12390-BH, W.D. Oklahoma). It is alleged that in the bankruptcy proceeding, Kyles falsely represented that he had not transferred property within two years immediately preceding the commencement of the bankruptcy case when he knew he had so transferred over $500,000 of money belonging to Metro Builders to his own personal bank account. It is also alleged that Kyles fraudulently transferred two parcels of real property belonging to Metro Builders located in Moore, Oklahoma, to a relative. The indictment alleges that Kyles laundered the deposit of $13,787.32 derived from bankruptcy fraud into an account in the name of Kirby Kyles Trucking LLC at First Fidelity Bank. Lastly, it is alleged that Kyles submitted false tax return information concerning his 2003 personal taxes in connection with a series of loan applications with Kirkpatrick Bank. The indictment also seeks forfeiture of $1,314,729, representing the amount of proceeds obtained as a result of the offense.
If convicted, Kyles faces up to five years in prison and a fine of $250,000 on bankruptcy fraud counts, up to 10 years and a fine of $250,000 on the money laundering charge, up to 30 years and a fine of $1,000,000 on the loan fraud charge.
These charges are the result of an investigation conducted by the Federal Bureau of Investigation and the Criminal Investigation Division of the Internal Revenue Service. The case is being prosecuted by Assistant U.S. Attorney Susan Dickerson Cox.
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