MATTER OF TOWERS

No. 98-1522.

162 F.3d 952 (1998)

In the Matter of James TOWERS, Debtor-Appellant. State of Illinois, Appellee.

United States Court of Appeals, Seventh Circuit.

Decided December 9, 1998.

Rehearing and Suggestion for Rehearing Denied January 12, 1999.


Attorney(s) appearing for the Case

John P. Schmidt, Office of the Atty. Gen. Civil Appeals Division, Chicago, IL, James D. Newbold (argued), Office of the Atty. Gen. Revenue Litigation Division, Chicago, IL, for Appellee.

John M. Kennelly (argued), Kennelly & Associates, Oak Park, IL, for Debtor-Appellant.

Before POSNER, Chief Judge, and BAUER and EASTERBROOK, Circuit Judges.


Rehearing and Suggestion for Rehearing En Banc Denied January 12, 1999.

EASTERBROOK, Circuit Judge.

James Towers took advantage of people in financial distress. Through his firm Update Financial Services Corp. Towers charged a fee for new financing that would stave off impending foreclosures on home mortgages. Towers promised the homeowners that part of the application fee, and all funds that the homeowners had been required to put into an escrow account,...

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