After prison, Jungen files for bankruptcy
Seven months after completing a prison sentence, Richard Jungen, once the top executive at the state's largest mortgage banking firm, has filed for bankruptcy.
The bankruptcy petition filed by the founder of Central States Mortgage Co., said Jungen, 69, has $18.9 million in liabilities and assets of $361,000.
"I have $15 million of bank judgments against me and no assets," Jungen said in a brief interview Thursday, adding that he has served his time and believed that his bankruptcy filing was not newsworthy.
In addition to the money owed to the lenders, Jungen also owes $540,000 to Kravit Hovel & Krawczyk, his criminal defense lawyers.
Read more: http://www.jsonline.com/story/money/business/2016/12/22/after-prison-jungen-files-bankruptcy/95756058/
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