Raleigh man sentenced for bankruptcy fraud

From staff reportsNovember 5, 2012 

— A Raleigh man has been sentenced for bankruptcy fraud, according to the U.S. Attorney’s Office.

Gary Kevin Coats was sentenced to 12 months and one day imprisonment, followed by three years of supervised release during which time he will not be allowed to work as a real estate broker.

The FBI investigation into Coats revealed that he conspired to sell a condominium property that had been surrendered in his bankruptcy, so that funds paid for the property would not go entirely to the Chapter 7 estate as they legally should.

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