Don’t Hide the Engagement Ring

Scott Maasen will be serving eighteen months in federal prison beginning in January 2019.  Although the Arizona attorney drove around town in a Maserati and bought million-dollar homes when he declared bankruptcy in 2009, he was sentenced in federal court earlier this month for concealing a $90,000 engagement ring.

Earlier this year, Mr. Maasen, his father, and his girlfriend were all indicted on multiple charges that included concealment and conspiracy.  The three were accused of disguising assets and lying to the court about who owned what. Specifically, in 2012, Mr. Maasen used his father to purchase a $90,000 engagement ring for his girlfriend.

Authorities allege that, prior to filing for bankruptcy, Mr. Maasen applied for a $725,000 mortgage loan, used funds from his law firm to lease his Maserati and put the title in his father’s name, concealed his ownership in an investment group, and hid hundreds of thousands of dollars he received while acting as a broker on a property sale, among other things.

Although Mr. Maasen was originally charged with twelve counts, federal authorities agreed to drop charges against his father and girlfriend in exchange for a guilty plea.  His lawyers explained that he was motivated by love and asked the court to consider the ring and not the related allegations.

The state of Arizona has since suspended Mr. Maasen from practicing law.  The State Bar of Arizona revealed that Mr. Maasen has previously been disciplined in multiple cases.