{
  "id": 6738544,
  "title": "Man declares bankruptcy with 34 cents while hiding millions",
  "url": "https://urgent.news/2026/09/10/man-declares-bankruptcy-with-34-cents-while-hiding-millions",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T23:41:36.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/crypto/articles/man-declares-bankruptcy-34-cents-234136167.html"
  },
  "original_language": "en",
  "account": "On September 8, a federal jury in Alexandria, Virginia convicted Jihoon Park for his involvement in an investment fraud scheme and for defrauding a bankruptcy court. According to the court documents and evidence presented at trial, Park exploited his personal connections and his past ties to a major financial institution to lure members of his community into investing their life savings and retirement funds with the promise of substantial returns. However, Park s actions extended beyond the investment fraud; he siphoned over $2.5 million from the unsuspecting community, using the money to purchase a house and invest in cryptocurrency.\n\nFollowing accusations from a fraud victim, Park proceeded to file for bankruptcy. During this process, prosecutors allege that Park, in an attempt to avoid paying back any funds to his victims, falsely claimed in court that he possessed only 34 cents in financial assets and no cryptocurrency holdings. This blatant lie was intended to conceal the millions of dollars worth of crypto assets Park had hidden away before filing for bankruptcy.\n\nPark was found guilty of three counts of wire fraud and two counts of bankruptcy fraud after the trial. If convicted, he faces a potential maximum penalty of 20 years for the wire fraud charges and up to five years for the bankruptcy fraud. The FBI's Washington Field Office is currently investigating the case, with Park's sentencing scheduled for December 10.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}