COEUR D’ALENE ATTORNEY PLEADS GUILTY TO BANKRUPTCY FRAUD

Craig Odegaard, a Coeur d’Alene attorney, entered a guilty plea on Tuesday to one count of bankruptcy fraud for having concealed contingency fee rights in his own bankruptcy proceeding filed in October 2004. The concealed contingency fee contracts netted Odegaard $24,989 just prior to his receiving a discharge of debts totaling approximately $155,000. Shortly thereafter, Odegaard purchased a new Chevrolet Corvette automobile, and the bankruptcy trustee discovered the concealment. Odegaard subsequently repaid his creditors.

The sentencing is set for September 23, 2008, at 8:30 a.m. in Coeur d’Alene.

United States Attorney Tom Moss stated, “Odegaard’s plea resulted from significant investigative efforts and cooperation by the Federal Bureau of Investigation, the Internal Revenue Service and the United States Trustee Program.”