This section is based on data provided to the Northern Valley Press by neighborhood police departments. Due to pending court appearances and other variations, the following information shall be read in “press time” context.
CRESSKILL, N.J.—Cresskill’s Victor Osorio, 40, is facing federal charges for allegedly making false declarations in relation to a bankruptcy proceeding.
Osorio is charged with two counts of bankruptcy fraud, the United States Department of Justice said. According to online reports, he helped bring the Mamajuana Cafe restaurant chain to several tri-state area locations.
According to the DOJ: On Feb. 16, 2017, Osorio filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code in U.S. Bankruptcy Court for the District of New Jersey. Osorio signed the bankruptcy petition under penalty of perjury, declaring that the information provided was true and correct.
In the petition, Osorio stated that none of his affiliates had a pending bankruptcy case, failing to disclose that a business in which he had an interest, “Business 1,” had a bankruptcy case pending at the time in U.S. Bankruptcy Court for the Southern District of New York.
Osorio also filed Schedules of Assets and Liabilities, signed under penalty of perjury, in which he stated that he did not own or have an interest in any incorporated or unincorporated businesses. Osorio failed to disclose that he had an ownership interest in Business 1—and he had declared approximately seven months earlier in Business 1’s bankruptcy documents that he was its sole owner—and had an ownership interest in another business, Business 2.
In the Schedules, Osorio also stated that he did not own or have an interest in any checking, savings or other financial accounts, failing to disclose a bank account with a bank based in the Dominican Republic in which he had an interest.
On Feb. 24, 2017, Osorio filed amendments to the schedules, disclosing a partial ownership interest in Business 1. However, the amendments still failed to disclose an ownership interest in Business 2 and the bank account in the Dominican Republic.
The bankruptcy fraud charge carries a maximum potential penalty of five years in prison and a $250,000 fine, or twice the gross gain or loss from the offense.
The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.