A Florida businessman is facing federal charges after being indicted for a string of bankruptcy offenses, which could result in a hefty prison sentence if he is convicted. David Ingram, 72, from Sanford, has been slapped with four counts of making false declarations on bankruptcy forms, and one count of perjury during a bankruptcy proceeding, as announced by the U.S. Attorney's Office, Middle District of Florida. The charges could potentially land Ingram up to 25 years behind bars.
The charges stem from activity that began in January 2023, where Ingram reportedly filed bankruptcy petitions for Altosgroups Florida, LLC (Altos-FL) and Altosgroups North Carolina, LLC (Altos-NC). According to an indictment obtained by the U.S. Attorney's Office, Ingram falsely declared that the aforementioned companies held about $4.6 million in assets for creditors in an Altos-FL bank account. It has been uncovered that over $3 million of these assets had been illicitly moved out of the company's account by Ingram himself as far back as November 2019.
This case was cracked open by the Federal Bureau of Investigation, alongside significant investigative support by the Office of the United States Trustee for the Middle District of Florida. The case is slated to be prosecuted by Special Assistant United States Attorney Chris Poor. With the legal gears now in motion, Ingram’s future hangs in the balance as the justice system takes its course.
