LOS ANGELES — Two physicians, who are husband and wife, and their attorney-accountant were indicted by a federal grand jury in a $3-million bankruptcy fraud scheme, the U.S. attorney's office said Thursday.
John Bussell, 53, and Letantia Bussell, 52, of Bel Air Crest, and attorney Jeffrey Sherman, 38, of Beverly Hills, were named in a 14-count indictment charging them with concealing assets from the bankruptcy court and creditors.
John Bussell, an anesthesiologist, and Letantia Bussell, a dermatologist, filed a bankruptcy petition in 1995 and, with Sherman's help, concealed their assets in three corporations, according to the government.
Assistant U.S. Atty. Paul Stern said the Bussells cheated federal and state tax collectors of more than $1.1 million, diverted more than $1 million from their Beverly Hills medical practice and concealed their $900,000 equity in a ski lodge in Park City, Utah.
Sherman operated the Tax Consulting Group of Los Angeles, which offers pre-bankruptcy tax planning.