A man guilty of fraudulent bankruptcy | Granite City News
Sentencing will be handed down in February for a former Edwardsville man who was found guilty in federal court of bankruptcy fraud. Kevin Kahrig, 49, pleaded in U.S. Bankruptcy Court for the Southern District of Illinois late last month, admitting he hid assets from his creditors by transferring those assets to his girlfriend-turned-wife before to file for bankruptcy. Information about the case was released last week.
Federal prosecutors said Kahrig admitted to transferring more than $277,000 in cash and checks to Catharine Kahrig in 2016 and then closed all of her bank accounts the following year. He then hid those cash transfers and many closed accounts in his subsequent filings with the bankruptcy court. He also removed his name from a lakeside home and hid the transfer from the courts. Kahrig also sold a boat for almost $400,000 and, although he disclosed the sale, he lied about the amount and that he provided the proceeds to his wife. Prosecutors believe he hid hundreds of thousands of dollars in assets from his creditors. Kahrig is a former building contractor in the area and faces up to 5 years in prison and fines.