Kris Roglieri Alleged to Have Transferred Assets to Third Parties

The Chapter 7 Trustee managing the personal bankruptcy of Kris Roglieri brought new information to light on Thursday by alleging that Roglieri lied heavily in his original bankruptcy petition. In addition to hiding assets, income, expenses, debts, gifts, and records from the bankruptcy process in part by running them through many business entities he owned, he also moved funds from his personal account into his Commercial Capital Training Group, LLC (CCTG) bank account just weeks before filing for personal Chapter 11 bankruptcy back in February. From there, assets from CCTG and assets from the National Alliance of Commercial Loan Brokers, LLC (NACLB), another business he owned, were transferred to third parties to be preserved as safekeeping for Roglieri’s own benefit.

“[Roglieri] thereafter transferred the assets including without limitation operations, funds, good will, client lists, and other personal property of Commercial Capital Training Group, LLC and the National Alliance of Commercial Loan Brokers, LLC to third parties,” the Trustee wrote. “[Roglieri] facilitated the transfer of assets from the Debtor Entities to dissipate the value of the Debtor membership interest in the Debtor Entities as a potential source of payment to creditors of the Debtor bankruptcy estate.”

On May 15, deBanked reported that the NACLB Conference had changed its name to Commercial Loan Broker Association (CLBA).

“The third parties are preserving the value of the transferred assets for the benefit of the Debtor,” the Trustee wrote. Assets belonging to the Roglieri estate were to have been turned over to the Trustee but were not.

Roglieri allegedly “facilitated the transfer of assets, including operations, funds, goodwill, client lists, and other personal property of Prime Commercial Lending, LLC to third parties” as well.

The Trustee has asked the Court to deny Roglieri a discharge of his bankruptcy. The full complaint can be viewed here.