Golf course developer pleads guilty to bankruptcy fraud, money l - Cincinnati News, FOX19-WXIX TV

Golf course developer pleads guilty to bankruptcy fraud, money laundering

CINCINNATI, OH (FOX19) -

A Cincinnati golf course and real estate developer pleaded guilty Tuesday to bankruptcy fraud and money laundering.

According to court documents, Michael Macke, 61, over the course of more than 20 years, developed and managed golf courses and developed housing on golf courses. In 2007, Macke engaged in a scheme to defraud his creditors and the bankruptcy court by transferring the money to purchase Elks Run Golf Course in Batavia, the ownership of which was then transferred into a trust he established for the benefit of his wife. 

Macke made these transfers in contemplation of bankruptcy, and failed to disclose the transfers or the trust in his bankruptcy case. 

Macke admitted that he committed money laundering by drawing a $75,000 check as part of the purchase of Elks Run from an insurance trust account he had concealed from the bankruptcy court.

The plea agreement includes a sentencing range of 12 to 24 months. Macke can also be ordered to pay restitution. A sentencing date has not yet been set. Macke will remain free on bond until sentencing.

Copyright 2011 FOX19. All Rights Reserved.

Powered by Frankly