Richmond individual bankruptcy lawyer sentenced in $800,000 embezzlement

RICHMOND, Va. (WRIC) — Bruce H. Matson, a Richmond guy who embezzled around $800,000 during his time as a bankruptcy lawyer, has been sentenced to 44 months in jail and a $10,000 fine, according to a assertion from the U.S. Department of Justice.

Matson was the court docket-appointed trustee for LandAmerica Fiscal Team, a serious estate insurance coverage and economic services company that confronted personal bankruptcy proceedings adhering to the 2008 financial crisis.

A federal investigation discovered that concerning 2015 and 2018, Matson individually embezzled over $800,000 from the believe in established up to administer the individual bankruptcy. He plead responsible to obstruction of justice previously this 12 months next allegations that he manufactured false statements to the U.S. Trustee’s Office environment in the program of their investigation.

In addition to the $800,000 he immediately misappropriated, he is accused of siphoning $3.2 million in unauthorized payments to himself and many others. These payments ended up enabled by language Matson snuck into a remaining personal bankruptcy agreement the evening just before the court docket was set to approve it.

According to the Justice Division assertion, Matson “wrongfully obtained” more than $4 million in belongings in between 2015 and 2019.