Section 408. Depletion of an estate during joint debt recovery

A penalty of a fine or imprisonment for a term not exceeding two years shall be applied to a debtor who while subject to bankruptcy or debt settlement proceedings pursuant to statute
  1. a.
    acts in a way that is likely to prevent an asset from serving as payment or benefit to the creditors, or
  2. b.
    falsely states or acknowledges any liabilities.