HAYWARD, Wis. (WRN) — A Hayward man is sentenced to prison for bankruptcy fraud.
Federal prosecutors said 74-year-old Bernard Seidling hid millions in assets during bankruptcy, including more than $1 million in cash stashed under his house. Seidling was sentenced last month to seven years in federal prison for bankruptcy fraud and criminal contempt of court.
U.S. Attorney Timothy O’Shea, who retired last month, called Seidling “a recurring and shameless financial predator.” Seidling filed for bankruptcy in 2022, falsely stating he had no assets and only one bank account with a balance of $195.
In reality, Seidling hid approximately $20 million in assets in dozens of sham trusts and partnerships. A jury convicted Seidling after a multi-agency investigation headed by the FBI, and a four-day trial in federal court in Madison.