(1) A person is guilty of defrauding secured creditors when he destroys, damages, removes, conceals, encumbers, transfers, or otherwise deals with property subject to a security interest with intent either to lower the value of the secured interest or unlawfully to hinder enforcement of that interest.
(2) Defrauding secured creditors is a Class A misdemeanor unless the value of the property subject to the security interest is:

Terms Used In Kentucky Statutes 517.060

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.

(a) Five hundred dollars ($500) or more up to ten thousand dollars ($10,000), in which case it is a Class D felony; or
(b) Ten thousand dollars ($10,000) or more, in which case it is a Class C felony.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 93, sec. 3, effective July 12, 2012. — Amended
1978 Ky. Acts ch. 342, sec. 1, effective June 17, 1978. — Created 1974 Ky. Acts ch.
406, sec. 150, effective January 1, 1975.