Scottsdale attorney sentenced to prison for bankruptcy fraud

Scott Allan Maasen, of Scottsdale, was sentenced by Senior U.S. District Judge David Campbell to 18 months in prison followed by three years of supervised release.

Maasen also was ordered to pay nearly $1.4 million in restitution to the United States Small Business Administration. Maasen had previously pleaded guilty to one count of concealment of assets in bankruptcy, according to a press release.

Maasen filed for bankruptcy in late 2009 after he stopped making payments on a $1.5 million loan guaranteed by the Small Business Administration. As part of his plea, Maasen admitted that, while his bankruptcy proceedings were still pending, Maasen purchased a $90,000 engagement ring for his fiancé.

Maasen admitted he did not disclose the ring or his payments to purchase the ring in his bankruptcy proceedings, although he was obligated to do so, the press release stated.

Maasen used credit card and bank accounts in his father’s name to make the payments to give the false appearance that Maasen’s father had purchased the ring.

The investigation in this case was conducted by the Internal Revenue Service—Criminal Investigation and Small Business Administration—Office of the Inspector General.

The prosecution was handled by Frank Galati, Bridget Minder, and Peter Sexton, Assistant U.S. Attorneys, District of Arizona, Phoenix, with assistance from the Office of the U.S. Trustee, United States Bankruptcy Court, District of Arizona, and Jennifer Giaimo, Special Assistant U.S. Attorney.

The Scottsdale Independent is published monthly and mailed to 75,000 homes and businesses in Scottsdale.

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