Former Owner Of Chicago Rush Arena Football Team Charged With Bankruptcy, Wire Fraud
(CBS) -- The former owner of the now-defunct Chicago Rush arena football team could be penalized up to 25 years behind bars, reports WBBM's Bernie Tafoya.
Former Rush owner David Staral was arrested at his home in Kenosha Monday morning on federal bankruptcy fraud and wire fraud charges.
Staral is accused of filing for bankruptcy before buying the team but then hiding the purchase from the people he owed money to as well as from a bankruptcy judge. Federal charges allege the 35-year-old lied to the arena football league his net worth when buying the team, telling the commissioner he was worth $5 million at a time he was in bankruptcy proceedings while owing people and companies $900,000.
Staral is also accused of depositing approximately $5,000 from ticket sales into his personal bank account and using the money for personal expenses.
Bankruptcy fraud carries a maximum of five years in prison and wire fraud carries a maximum of 20 years in prison.