James Gregson, 39, pleaded guilty today to two counts of bankruptcy fraud for hiding his annual winnings from two $1-million scratch tickets from trustees handling his bankruptcy - and lying in court about how he came by to have the two tickets, the US Attorney's office reports.
According to a federal "information" in his case, Gregson spent $400,000 - including $150,000 from a client trust fund - to buy the two tickets from the original winners in 2002 and 2003. That way, they'd get money up front and he'd get guaranteed payments of $70,000 for at least 13 years.
Gregson filed for bankruptcy in 2005, failed to note the annual lottery income. But then the trustee handling his bankruptcy got a tip about the winnings. When Gregson was asked in court about them, he said his wife had bought the tickets, using money from his parents.
Also, in 2003, he claimed no "total taxable income" on his federal tax return, when, in fact, he had income of more than $450,000, the feds say.
The lying and covering up could get Gregson up to five years in the federal pen when he's sentenced in January, the US Attorney's office says.
Gregson lost his Massachusetts law license in 2008.
Complete information.