MADISON, Wis. (WFRV) - A Wisconsin man who is also from Key West, Florida was convicted on Thursday for two counts of bankruptcy fraud and another count of criminal contempt of court. 73-year-old Bernard Seidling had a four-day trial in a Madison federal court, as the jury reached its verdict af ter roughly five hours of deliberating, according to a release from Timothy M. O’Shea, United States Attorney for the Western District of Wisconsin. Appleton paper & manufacturing company confirms employee death from workplace accident U.S. Attorney O'Shea emphasized that he and his office are committed to prosecuting cases like this to protect financial institutions and those it may impact. "Fraud threatens the free and fair markets upon which our economy is based," U.S. Attorney O'Shea said via the release. "Moreover, fraud against the Court—in this case, the Bankruptcy Court—has the potential to undermine public trust in the fairness of the courts." The Federal Bureau of Investigation (FBI) also took part in the overall case, with Milwaukee Special Agent in Charge Michael Hensle calling criminal bankruptcy fraud a threat to legal integrity. "The FBI is unwavering in its commitment to holding individuals like Mr. Seidling accountable," Agent Hensle said via the release. "The FBI remains committed along with our law enforcement partners in bringing those to justice who would abuse and exploit the bankruptcy system." The charges stemmed from a bankruptcy filing Seidling made in 2022, in which he falsely claimed that he had none of the following: Real estate Retirement accounts Trusts Partnerships Business-related property Seidling also alleged that had one deposit account with a total of $195; however, the government investigation with 25 witnesses and 115 exhibits concluded that he had several million dollars in assets, hidden behind trusts and partnerships. The day Seidling filed bankruptcy, he held four bank accounts in trusts and partnerships with over $3 million combined. A search warrant in 2023 at his Hayward home revealed over $100,000 in cash and over $4 million in uncashed cashier's checks, drawn to Seidling. Furthermore, the government found that Seidling defrauded the bankruptcy court and the trustee by falsely claiming he couldn't meaningfully participate in the case due to mental and physical health problems, which hindered efforts to identify and liquidate his assets. While Seidling was claiming his incapacity to participate in the case, he kept managing his business while playing tennis. Seidling also represented himself and participated in state court litigation. A November 2023 injunction also barred Seidling from transferring assets held by 37 of his businesses and any other business he may be associated with. It also prohibited him from having others transfer assets. Seidling violated these injunctions by transferring real estate and draining bank accounts, while also hiding over $1 million in cash in a crawl space. Green Lake officials help rescue multiple deer from ice aided by Sheriff’s Office Drone Chief U.S. District Judge James D. Peterson set Seidling's sentencing for June 11, 2025, as he faces up to five years in prison for each count of bankruptcy fraud; however, there is no maximum for criminal contempt of court. No additional details were provided. ...read more read less