MADISON, Wis. — Bernard Seidling, a 74-year-old man from Hayward, Wisconsin, was sentenced to seven years in federal prison and fined $500,000 for bankruptcy fraud and criminal contempt of court.
Seidling was convicted in March after federal prosecutors revealed that he had hidden more than $20 million in assets through fraudulent trusts and partnerships. Despite claiming he had no valuable holdings and just $195 in the bank, Seidling had sold a Key West home for $3 million in 2021 and continued to operate businesses and travel during the bankruptcy process—while telling the court he was too ill to participate.
He also violated a federal bankruptcy court order by transferring real estate, draining business accounts, and hiding over $1 million in cash beneath his home.
Chief U.S. District Judge James D. Peterson handed down the sentence, citing Seidling’s long history of financial manipulation, which includes prior convictions for mail fraud in 2009 and interfering with commerce by threats in 1991.
The case was a collaborative effort involving the U.S. Trustee’s Office, FBI, Wisconsin DOJ, U.S. Postal Inspectors, and federal prosecutors. U.S. Attorney Timothy O’Shea called Seidling a “recurring and shameless financial predator.”
Though he claimed he couldn’t afford legal representation, evidence showed otherwise, and Seidling was ordered to reimburse the U.S. Treasury for the cost of his court-appointed attorney.
