Golf course developer gets jail time for fraud - Cincinnati News, FOX19-WXIX TV

Golf course developer gets jail time for fraud

CINCINNATI, OH (FOX19) -

A local golf course developer was sentenced to six months in jail for bankruptcy fraud and money laundering.

Michael R. Macke, 61, of Cincinnati, will also have to pay $471,462.70 in restitution to the bankruptcy trustee for fraud contained in his $35 million bankruptcy filing in which he obtained a discharge of personal and business debts for which he was liable. He will also spend 12 months in home incarceration.

Macke pleaded guilty in September 2011 to one count of bankruptcy fraud and one count of money laundering. 

According to court documents, Macke over the course of more than 20 years developed and managed golf courses and developed housing on golf courses. In court documents, Macke acknowledged that several months prior to filing bankruptcy, he transferred and concealed funds totaling $471,462.70 for the purchase of Elks Run Golf Course, with the intent to defraud his creditors. Macke further acknowledged that he engaged in money laundering by endorsing a $75,000 check representing proceeds from an insurance policy as part of the fraudulently-transferred funds.

"Macke did not disclose in his bankruptcy statement of financial affairs that he had made these transfers, which transfers essentially drained the remaining money out of his corporate and personal accounts," Senior Litigation Counsel Anne Porter and Special Assistant U.S. Attorney Dean Wyman wrote in a sentencing memorandum filed prior to the sentencing. "When he concealed these transfers in his bankruptcy filing several months later, Macke cheated his creditors and defrauded the bankruptcy trustee."

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