ROCKFORD —(ENEWSPF)–September 17, 2015. A former Bull Valley, Ill. man pleaded guilty today before U.S. District Judge Frederick J. Kapala to the concealment of assets from a Bankruptcy Trustee. JOSEPH MICHAEL PHELAN, 51, now of Augusta, Ga, the former President of Phezer Enterprises, Incorporated, located in Crystal Lake, Ill., caused to be filed a Chapter 7 Bankruptcy Petition for Phezer Enterprises on August 18, 2008. According to the written plea agreement, after Phelan closed Phezer Enterprises on August 13, 2008, Phelan had three Phezer employees start cutting up and scrapping unused and used Phezer assets, including stainless steel sheets and various metals. On August 18, 2008, the day Phezer filed for bankruptcy, Phelan sold 21,182 pounds of stainless steel to Company C. Phelan personally received $15,251.04 for the steel.
