YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

KC-area payday lender pleads guilty to bankruptcy fraud

Posted online

Mission Hills, Kansas, resident Del Kimball pleaded guilty this week to one count of bankruptcy fraud related to his network of payday lenders.

His network, collectively called LTS Management Services, was forced into involuntary bankruptcy in 2015 by creditors. Kimball, his business partner and LTS at the time also were on the hook for $55 million in judgments in Missouri alone.

Kimball on Tuesday admitted to defrauding the U.S. Bankruptcy Court. Allegations include hiding assets, bank accounts and claims against third parties.

Read more from the Kansas City Business Journal.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: Nothing Bundt Cakes

Specialty bakery and national chain Nothing Bundt Cakes made its Springfield debut; Angelia Fox became a first-time business owner upon opening A&A Boutique & Country Decor; and Marshfield gained a drive-thru coffee shop.

Most Read
SBJ.net Poll
What's your primary method of shopping for groceries?

*

View results