Illinois · Criminal Code of 2012 (720 ILCS 5)
720 ILCS 5 § 17-27: Fraud on creditors
What this law says, in plain English
Fraud on creditors prohibits destroying, concealing, or misrepresenting property during insolvency proceedings or transferring property to defraud creditors. Violations are Class 2 or Class 3 felonies depending on benefit amount, or a business offense with fines up to $1,000.
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