Question

Receiving a material amount of property from the debtor with intent to defeat the Bankruptcy Code would be subject to a maximum penalty of a fine plus how much time in prison?

a. 1 year.
b. 5 years.
c. 10 years.
d. 20 years.

Answer 1

When an individual receives property from a debtor with intent to defeat the Bankruptcy Code, they can face up to 5 years in prison as per Title 18 U.S.C. section 152.

Step-by-step explanation:

The question pertains to the consequences of fraudulent activities relating to the U.S. Bankruptcy Code. When an individual receives a material amount of property from a debtor with the intent to defeat the intentions of the Bankruptcy Code, they could potentially face criminal sanctions.

According to Title 18 of the United States Code (U.S.C.), specifically section 152, which deals with fraudulent activities in relation to bankruptcy proceedings, such an act can result in a maximum penalty that includes both a fine and imprisonment. The maximum time in prison for such an offense can be up to 5 years.