Fraudulent conveyance is the act of transferring assets to another person or entity in order to avoid creditors from collecting on a debt.

Reliance is not an element of bankruptcy fraud. The other three elements are: intent to deceive, materiality, and knowledge of insolvency.

The maximum penalty for bankruptcy fraud is 20 years in prison.

Asset stripping is the most common type of bankruptcy fraud. It involves selling or transferring assets to another person or entity in order to avoid creditors from collecting on a debt.

Serial bankruptcy is the act of filing for bankruptcy multiple times in a short period of time.

High levels of debt is not a red flag for bankruptcy fraud. The other three options are red flags for bankruptcy fraud.

Perjury is the act of making false statements or omissions on a bankruptcy petition.

Loss of employment is not a consequence of bankruptcy fraud. The other three options are consequences of bankruptcy fraud.

Bankruptcy tax fraud is the act of using bankruptcy to avoid paying taxes.

Insider trading is not a type of bankruptcy fraud. The other three options are types of bankruptcy fraud.

Bankruptcy child support fraud is the act of using bankruptcy to avoid paying child support.

High levels of debt is not a red flag for bankruptcy fraud. The other three options are red flags for bankruptcy fraud.

Perjury is the act of making false statements or omissions on a bankruptcy petition.

Loss of employment is not a consequence of bankruptcy fraud. The other three options are consequences of bankruptcy fraud.

Bankruptcy tax fraud is the act of using bankruptcy to avoid paying taxes.