Charter Company CEO Sentenced for Bankruptcy Fraud

 - May 10, 2022, 10:25 AM

Alan Russell Cook Sr., the former president and CEO of aircraft management and charter company Metropolitan Aviation, was sentenced to 2.5 years in jail, 36 months of supervised release, $365,961 in restitution, forfeiture of $177,383, and an $800 special assessment for bankruptcy fraud, according to the U.S. Department of Transportation Office of Inspector General.

In December, Cook was convicted of bankruptcy fraud in the U.S. District Court for the Eastern District of Virginia. Charges included making false statements and falsification of records in relation to Metropolitan’s bankruptcy proceeding, as well as false bankruptcy declaration.

An investigation revealed that between April 2016 and November 2017, Cook transferred more than $350,000 in revenue and personal property from the now-defunct Manassas, Virginia-based business aircraft services company to bank accounts opened by his former girlfriend in her name and the name of a fake company to hide assets from creditors in the bankruptcy. He also made false statements under oath at the meeting of the creditors.