North Myrtle Beach, SC - COLUMBIA, SC (WMBF) - A North Myrtle Beach hot dog vendor has pleaded guilty to bankruptcy fraud Wednesday after selling his business priced at $1,500 for $95,000.
Evidence established revealed Anthony Randall Simmons, 44, of North Myrtle Beach, filed for bankruptcy in April 2007. Under federal law, Simmons was required to list the value of all assets.
Authorities state Simmons listed a hot dog stand he operated in North Myrtle Beach as an asset, and valued it at $1,500. While the bankruptcy was pending, Simmons sold the business for $95,000.
Simmons faces the maximum penalty of a $250,000 fine and five years in jail.
U.S. District Judge R. Bryan Harwell accepted Simmons' guilty plea and will sentence the 44-year-old after he has reviewed a pre-sentence report prepared by the U.S. Probation Office.