Debtor and Lawyer Charged with Bankruptcy Fraud Reuters A Danville, California man and his Bankruptcy Attorney have been indicted by a Federal Grand Jury on one count of mail fraud, one count of conspiracy, one count of Bankruptcy fraud and one count of concealment of assets. The U.S. Attorney's Office for the Northern District of California announced the indictments Monday. According to the indictment, Arnold Stewart, 54, of Danville and his Bankruptcy Attorney, Gregory S. Lyons, 49, of Orinda, allegedly took part in a scheme to prevent certain creditors from obtaining and recording a judgment lien on Stewart's property in Mendota. While Stewart was in Bankruptcy, the men allegedly "entered into coal-mining investment encumbering the Mendota property" but never disclosed that fact to the Creditors, the Bankruptcy Court or the Trustee, according to a statement released by the U.S. Department of Justice. Instead, they led creditors to believe they were following the order of the Bankruptcy Court to sell the land and pay the proceeds to creditors. When it appeared that some creditors had learned of the scheme, the Defendants attempted to conceal the fraud by dismissing the Bankruptcy case, according to the Department of Justice. _________________________ CEO Compensation Continues to Rise Even As Employees Languish in Debt Reuters The median compensation for Chief Executives at the largest U.S. companies rose to $4.6 million last year, up from a median $3.6 million in 2002, according to the latest pay survey by the Corporate Library. The 27% climb in overall pay -- base salary, bonus, options proceeds, restricted stock awards and long-term incentive plans -- exceeds the 11.5% rise in 2002 over 2001. “I am surprised at the strength of the growth in the annual compensation,” said Paul Hodgson, author of the 2003 CEO pay report. Driving the gains were restricted stock awards. The 2003 median value for these awards was nearly $2 million, up from $1.46 million in 2002. Last year, 116 CEOs received restricted stock awards, up from 99 in 2002.