James E. Monroe Jr., a 59-year-old resident of Daniels, West Virginia, has pleaded guilty to charges of money laundering. The plea was entered in Beckley, West Virginia.
Court documents and statements revealed that Monroe filed for personal bankruptcy on February 25, 2022. During the bankruptcy process, he was required to provide accurate schedules of his assets and a statement detailing his financial affairs. However, Monroe admitted to selling a collection of over 10,000 sports trading cards after filing for bankruptcy without disclosing this asset or its sale in the necessary filings. He sold the collection online to a friend, converting it into cash to disguise the nature of the proceeds.
Further admissions by Monroe included failing to disclose several significant financial activities: the December 2021 sale of his marital home in Glade Springs for $525,000; a retirement account; two loans secured using equity from his whole-life insurance policy; and a storage unit in Shady Spring containing property belonging to the bankruptcy estate. Additionally, Monroe falsely claimed that his minor daughter lived with him as a dependent.
Monroe is set for sentencing on May 15, 2025. He faces up to 20 years in prison, three years of supervised release, and a fine reaching $500,000.
United States Attorney Will Thompson praised the Federal Bureau of Investigation (FBI) for their investigative work. The case was referred by the United States Trustee’s Charleston field office to the U.S. Attorney’s Office. The United States Trustee Program aims to uphold integrity and efficiency within the bankruptcy system.
The hearing was overseen by United States Magistrate Judge Omar J. Aboulhosn with Assistant United States Attorney Jonathan T. Storage prosecuting.
For more information or related court documents, interested parties can visit PACER and search Case No. 5:24-cr-121 or check the website of the U.S. Attorney’s Office for the Southern District of West Virginia.