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Former Machesney Park Man Indicted For Bankruptcy Fraud

A former Stateline resident accused of bankruptcy fraud is indicted by a federal grand jury.

A former Stateline resident accused of bankruptcy fraud is indicted by a federal grand jury.

Robert Yonkee, Jr., 54, filed for a Chapter 7 Bankruptcy Petition in 2008.  The indictment alleges he concealed property from the bankruptcy trustee, creditors, and the U.S. Trustee.  They say he hid his ownership of a business that sells auto parts, automobiles, and motorcycles, the U.S. Super Truck Racing Series, Bobby Yonkee Racing, as well as other items.

The indictment also alleges Yonkee made false statements on a bankruptcy schedule and a Statement of Financial Affairs, both of which were filed under penalty of perjury.  He's also charged with making material false statements under oath in a bankruptcy proceeding with creditors.

Each charge carries a maximum penalty of five years in prison and a fine of up to $250,000, or twice the gross gain or gross loss resulting from the offense, whichever is greater.

Yonkee now lives in Lake Geneva, WI.

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