Auburn man sentenced for hiding $500,000 plane sale during bankruptcy process

Posted Sept. 16, 2011, at 5:32 p.m.

PORTLAND, Maine — A 66-year-old Auburn man is going to prison for lying about the sale of three airplanes in an attempt to hide nearly half a million dollars from his estate during bankruptcy proceedings.

Maurice Roundy was sentenced in federal court Friday to two years in prison after being convicted of bankruptcy fraud in May.

According to court documents, Roundy claimed in bankruptcy filings in 2005 that he had sold three Lockheed Super Constellation Starliners for $20,000. At the time, only four of the piston-engined airliners were left in the world.

In fact, Roundy had sold the planes to a buyer for $500,000 and concealed the sale from his bankruptcy trustee and creditors. When the deception was revealed, the trustee recovered the planes and sold them at auction for $748,000.

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