In the Matter of Laymon Berman Walker, Bankrupt. Laymon Berman Walker v. Citizens State Bank of Maryville, Missouri

The appellee, Laymon Berman Walker, ran as sole proprietor a hardware store in Maryville, Missouri. In late 1979 he became ill and his wife took control of the business for about two years, with lesser involvement of Mr. Walker. During this time Mrs. Walker assigned fictitious accounts receivable to the appellant bank. The bank paid for these assigned accounts by directly depositing some $43,000.00 in the hardware store’s bank account. The Walkers used this money to pay both business and personal expenses. After this scheme was discovered, Walker filed a petition in bankruptcy under Chapter…