Colts Neck man declared bankruptcy but had $2.9M in secret bank account, feds say
NEWARK - A Colts Neck man has been charged with fraudulently filing for bankruptcy, after federal investigators discovered he had a hidden bank account with a balance of $2.9 million, Acting U.S. Attorney Rachael Honig said.
Elia Zois, 56, was charged with one count of concealment in bankruptcy after he claimed he had hundreds of millions of dollars in liabilities and limited assets, Honig said in a prepared statement.
Zois was one of five partners in a health care business that maintained about 50 senior-living facilities throughout New Jersey, Michigan, and Wisconsin. The business was based here in New Jersey, according to the U.S. Attorney’s Office.
On Feb. 6, 2019, Zois and his spouse filed for Chapter 7 bankruptcy protection. They claimed that between 2014 and 2018, Zois had $9,000 in assets and $201 million in liabilities, because of his partnership in the business, according to court records.
Read more: https://www.app.com/story/news/local/western-monmouth-county/colts-neck/2021/06/03/colts-neck-man-declared-bankruptcy-but-had-2-9-m-secret-bank-account-feds-say/7534914002/
(Asbury Park Press)
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