ELIZABETH CITY—United States Attorney
Thomas G. Walker announced that in federal court on June 6, 2012, Gregory Scott
Sipe, 54, pled guilty before United States District Judge Terrence W. Boyle to
destruction, alteration, or falsification of records, in violation of Title 18,
United States Code, Section 1519.
According to the February 8, 2012
criminal indictment, Sipe filed a Chapter 7 bankruptcy petition in the Eastern
District of North Carolina in which he was required to file schedules that
included a listing of personal property. The schedules are required to be signed
under the penalty of perjury. In August 2010, Sipe listed several guitars with
a net value of $10,000. It was later learned that the guitars in his collection
numbered over 300. Also, Sipe did not list his amplifiers and sound equipment
in the filed schedules.
According to the report of sale in the
bankruptcy proceeding, on April 30, 2011, the guitars were sold by the Chapter
7 trustee. The guitars brought approximately $897,820 in gross proceeds.
At sentencing, Sipe faces up to 20
years’ imprisonment, followed by up to three years of supervised release, and a
fine of up to $250,000.
Investigation of this case was conducted
by the Federal Bureau of Investigation. Assistant United States Attorney S.
Katherine Burnette prosecuted the case.
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