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Jacqueline HoweWestport's Jacqueline Howe May be Forced into Personal Bankruptcy

FRAUD REPORT: Westport’s Jacqueline Howe May be Forced into Personal Bankruptcy

Tax Cheat Father John C. Howe’s Fraudulent Transfers to Daughter Jacqueline Expose Her to Financial Ruin

The ongoing fraud investigations into Westport’s John C. Howe and Old Hill Partners Inc. is not victimless. There is the IRS who has not been paid millions of dollars of taxes Mr. Howe averted through tax fraud. There are also Mr. Howe’s private hedge fund investors from whom Mr. Howe and others “siphoned” millions in excessive fees and transfers to Mr. Howe’s family members. There is also Mr. Howe’s wife, Sarah Howe, who may have been coaxed by her husband into acting as a surrogate to receive funds that Mr. Howe stole from his investors.

Perhaps the most vulnerable of these victims is John C. Howe’s 28-year-old daughter, Jacqueline Howe. Ms. Howe is accused by a second whistleblower of receiving funds that her father diverted from private investor funds. Ms. Howe is the beneficiary of those funds that certain fueled her lifestyle even if she was unaware of the ongoing fraud that was perpetrated by her father.

Even though Jacqueline Howe might be forgiven for being naïve and ignorant of her father’s fraudulent affairs, she does not get an exemption from prosecution. The simple fact is that Jacqueline Howe owes creditors, investors and others millions of dollars that did not belong to her.

Jacqueline Howe is supposed to marry Peter Bergschneider in Cabo San Lucas, Mexico, in an elaborate wedding scheduled for February 15, 2015. Mr. Bergschneider is an associate with Park Hill Group in Manhattan.

Although the Jacqueline and Peter nuptial will certainly be festive, it cannot disguise the fact that Jacqueline Howe, like her mother, Sarah, is in trouble, big trouble, and there is no one to bail her out. John C. Howe, who has historically been the sole source of the Howe family wealth, may be facing numerous civil, and possible, criminal, charges that may last for years to come. Family assets are likely to be tied up, frozen and possibly sold.

So, who will help innocent Jacqueline? No one, unless Peter Bergschneider’s family wants to chip in tens of millions of dollars to bail out their future in-law, Jacqueline.

Ultimately, Jacqueline’s only real hope may be to file personal bankruptcy and try to alleviate herself of the liability exposure she could face due to her father’s actions.

“But bankruptcy may not even solve Jacqueline’s problems, particularly if creditors can demonstrate that Ms. Howe knew of her father’s illegal activities and that she committed fraud, ” says Erika Braunstein, a legal advisor who specializes in creditor-debtor dispute resolutions.

Says Fraud Report’s Editor, Jacob Reinstein, “ Jacqueline Howe is too young to have this type of overwhelming financial burden. It can destroy her marriage. If I were Jacqueline, I am not sure I could quickly forgive my father for his reckless behavior.”

Continues Erika Braunstein, “John Howe surely hurt his daughter, Jacqueline and his wife, Sarah. By transferring assets into their names, he should have realized he was implicating them in his own fraud.”

That leaves Jacqueline with a wedding to plan with a slim ray of sunshine amidst a very stormy future.

Jacqueline Howe

Ge
Dec 23, 2014

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