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First Came Love, Then Came $90,000 Ring, Then Came Jail

By William Vogeler, Esq. on November 21, 2018 | Last updated on March 21, 2019

Scott Maasen was in love, but he was dealing with an occupational hazard.

He had been a prosecutor, then turned to the dark side of criminal defense. Along his hazardous career path, he picked up some bad habits.

Now he's going to prison for bankruptcy fraud, but that's not the worst part. His fiancée will not be getting the $90,000 engagement ring he bought for her, and that means hell.

Bankruptcy Fraud

In his guilty plea, Maasen admitted that he hid the diamond ring purchase from the bankruptcy court. If you're interested, the 6-plus carat, emerald-cut diamond, set in white gold and surrounded by 52 smaller diamonds is up for auction.

According to authorities, Maasen hid assets in a series of complex transactions. Among others, he:

  • Claimed financial hardship to settle a $1.5 million government loan for $450,000
  • Applied for a loan to buy a $1.2 million home at the same time
  • Bought a $1.1 million home and put it in his father's name
  • Put the $90,000 diamond ring in his father's name

Maasen was planning for financial freedom and marriage, not jail. The former prosecutor had a reputation of "honesty and fairness" and he acted out of love, his lawyer said in a brief.

Fiancé's Deal

That wasn't enough to keep Maasen out of jail. In exchange for a guilty plea, however, federal authorities agreed to drop charges against his father and fiancée.

The judge accepted the plea and gave Maasen to put his affairs in order before going to prison. He will serve 18 months, followed by three years probation.

He also has to repay $1.4 million to the Small Business Administration. And apparently the marriage is off.

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