According to his wife’s September 28, 2009 affidavit, Dennis Hecker had stopped financially supporting her and was hiding assets.  Dennis Hecker’s wife therefore asked Judge Jay M. Quam of Hennepin County Minnesota, to impute income to Mr. Hecker and to issue an interim order of spousal maintenance and child support.  As more fully set forth at "Has Auto Magnate Dennis Hecker Hidden His Assets?", Mr. Hecker was also accused of hiding assets during his chapter 7 bankruptcy case.

Since Mr. Hecker had concealed assets during his bankruptcy, (and defrauded his financial lenders), he was finally convicted of bankruptcy fraud and conspiracy to commit wire fraud.  Although Mr. Hecker was sentenced on February 11th to serve ten years in prison for these crimes, the question remains: Will Mr. Hecker’s chapter 7 trustee be able to make a meaningful recovery for the creditors of Mr. Hecker’s bankruptcy estate?

While Mr. Hecker is believed to have possessed at bare minimum $18.5 million in assets, his chapter 7 trustee so far reportedly interdicted only about $3.8 million.  This trustee is however hoping to detect the source of Mr. Hecker’s funds by seeking court-ordered discovery.  As a January 21, 2011 court filing demonstrates, the trustee is trying to gather financial intelligence including copies of legal bills, checks, wire transfers, etc.: 

(Click On The Image To Read The January 21st Court Filing)

Copyright 2011 Fred L. Abrams