Decatur woman sentenced to prison for bankruptcy fraud

Posted at 4:27 PM, May 27, 2015
and last updated 2015-05-27 16:27:10-04

GRAND RAPIDS, Mich. —  A Decatur woman was sentenced to 20 months in prison and ordered to pay nearly $185,000 in restitution after being convicted of bankruptcy fraud.

Mellissa Sue Stamp was sentenced in U.S. District Court in Grand Rapids Wednesday, according to a release.

Federal investigators say she admitted to giving roughly $165,000 to family members to conceal the money from a bankruptcy case involving her and her husband Michael Stamp’s businesses.  She also admitted to keeping $50,000 in a safe, according to a release.

In 2011, officials say Michael Stamp obtained roughly $60 million in financing for Stamp Farms and Northstar Grain.   The companies defaulted on the loans and they filed for bankruptcy in 2012, according to a release.

None of the money that Melissa Stamp helped hide was disclosed in bankruptcy court, officials said.   She also agreed to forfeit $151,915 in profits from the fraud as part of her plea deal, according to a release.