Michael Giventer: Sudden-Stop-Accident Scammer Arrested for Bankruptcy Fraud
Michael Giventer owed State Farm Insurance $8.6 million after losing a civil suit where the company proved he had been scamming the company for years through false claims stemming from "sudden-stop" accidents.
A simple accident -- or was it?
He also had been convicted of criminal fraud for staging car accidents.
He didn't want to pay the tab, so he did a couple of things, the U.S. Attorney's Office says: He took off for the Ukraine, and he found a wife and entered into an agreement with her that would help hide all his assets. He also declared bankruptcy.
Federal prosecutors have charged him with bankruptcy fraud because of the effort to hide assets, and he was arrested in Florida after getting off a plane from the Ukraine and will be arraigned in Houston later this week.
His wife, Julia Shvabskaya, was also arrested.
"In addition to concealing assets, Giventer and Shvabskaya allegedly destroyed financial records kept in their personal and business computers, in an effort to conceal additional assets from the trustee and his creditors," the USAO says.
The two are believed to have hidden more than $4 million in assets.