JACKSON, Miss. — A 63-year-old Terry man has pleaded guilty to bankruptcy fraud.
U.S. Attorney Gregory K. Davis, in a news release Thursday, said Kenneth Bowman Jr. embezzled about $101,733 from the Piggly Wiggly, a debtor in Chapter 11 bankruptcy in the Southern District of Mississippi.
Davis says Bowman, as the company’s officer and representative, appropriated to his own use estate funds belonging to the company. Davis says he made checks payable to cash and used the money to satisfy his personal debts while reducing assets available to creditors.
Bowman will be sentenced Dec. 15 by U.S. District Judge Tom S. Lee. He faces up to five years in prison and a $250,000 fine.