KC Reporter

A man from Stillwell, Kansas, has been sentenced to 21 months in federal prison for bankruptcy fraud related to his healthcare business. William L. Said, 62, appeared before U.S. District Judge Greg Kays on April 29, 2025, and was ordered to serve his sentence without parole. Additionally, the court required Said to pay $85,000 in restitution, which was settled at the time of sentencing.

On October 1, 2024, Said entered a guilty plea to one count of bankruptcy fraud. He acknowledged fraudulently transferring and concealing assets in the bankruptcy case related to his company, Restorative Brain Clinic, Inc., which offered Transcranial Magnetic Stimulation services. The company had filed for voluntary bankruptcy in July 2021, establishing a debtor-in-possession account for its operating funds, which only Said was authorized to access.

The U.S. Trustee for Region 13, which includes the Western District of Missouri, moved in September 2021 to convert the clinic's bankruptcy to a Chapter 7 liquidation due to mismanagement and loss of estate assets. U.S. Bankruptcy Judge Dennis R. Dow conducted a hearing on the motion on October 14, 2021. He ruled in favor of the conversion, citing asset mismanagement and inadequate corporate controls. Following the hearing, Judge Dow appointed a Chapter 7 trustee to manage the estate's creditors.

Minutes after losing control over the clinic's assets, Said executed several wire transfers from the debtor-in-possession account. He transferred $5,000 to his personal account, $12,400 to a shareholder's account, $16,300 to a medical staffing firm, and attempted to transfer $5,760 to the clinic's landlord, though this was blocked when the account was frozen.

Additionally, Said admitted to selling leased medical equipment illegally. The Restorative Brain Clinic had leased equipment from AB Sciex, LLC in 2018. Said, also owning Cox Scientific, sold equipment to a California company in 2019. The electronic invoice included serial numbers that matched those of the leased equipment. Said altered these numbers to conceal the sale of equipment he did not own. The California company paid $85,000 for this equipment, believing it was validly owned by Said.

The case was prosecuted by Special Assistant U.S. Attorneys Bradley Cooper and Adam Miller and investigated by the FBI and the U.S. Trustee for Region 13.