Sarah Y. Howe — Westport's Sarah Y. Howe Should Be Concerned About Her Lifestyle--Whether Bankruptcy is Imminent
Tax Cheat Husband, John C. Howe, has Exposed Howe Family to Financial Ruin
The Howe family lives at 4 Winding Lane, in Westport, Connecticut, and finds itself in a rather improbable and precarious financial situation.
Although on the surface, the Howes are wealthy and certainly referred to as “one percenters, ” there is an undercurrent that is about to destroy the family’s financial means from the inside out. That impetus of such destruction is the ongoing fraudulent activities of the family’s patriarch, John C. Howe.
Jacob Reinstein, Editor of the Fraud Report, has reported previously on the fraud allegations against John C. Howe and Old Hill Partners, Inc. Those reports have stated that Mr. Howe is in the midst of ongoing IRS and SEC fraud investigations based on a Boston whistleblower’s filings against Mr. Howe and his funds. More crucial to Mr. Howe is that a second whistleblower has come forward and is preparing to file even more damaging information that Mr. Howe and others conspired to commit fraud by “siphoning” client investment funds.
“Mr. Howe is neck deep in scandal that is about to bring his entire family down, financially, ” says John Bune, a legal correspondent.
Additionally, the same whistleblower has evidence that John Howe shifted assets to his wife Sarah Howe, and daughter, Jacqueline Howe, to hide the theft of client funds.
Says John Bune, “That means that John Howe, his wife, and daughter, Jacqueline, could all be complicit in the fraud scheme. If so, all of the family assets are at risk.”
This Fraud Report has learned that a prime family asset, the residence at 4 Winding Lane, in Westport, is worth about $2 million. “John Howe moved the family home into wife Sarah’s name for asset protection. But John probably did not think that Sarah would be a target of litigation in the future.”
If Sarah is sued, the family home would be the target of creditors and possibly a bankruptcy trustee.
“If both Sarah and John are sued by creditors, their only option may be to file personal bankruptcy, ” says an Greenwich Connecticut attorney who specializes in creditor-debtor disputes.
But the bankruptcy will not protect daughter Jacqueline unless she, too, files bankruptcy.
The greater problem for all of the Howes is that bankruptcy will not necessarily solve their problems. The reason, according to one attorney, is that there is fraud involved and committed by John Howe, and possibly Sarah Howe and Jacqueline Howe.
Says Erika Braunstein, a legal advisor to Whistleblowers International, “The U.S. Bankruptcy Code punishes debtors who commit fraud or try to conceal assets from creditors. Such debtors do not receive relief from creditors if they engaged in fraud.”
According to the second whistleblower, Mr. Howe, in concert with his wife, daughter and other individuals did, in fact, fraudulently transfer assets and hide them from creditors.
Continues Braunstein, “That would mean that Mr. Howe would go through a bankruptcy and not have his debts discharged. Nor would wife, Sarah and daughter, Jacqueline.”