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An Orlando businessman, Ishrat Rehmetullah, is citing the Fifth Amendment against self-incrimination while arguing in federal bankruptcy court that he shouldnt have to disclose all of his assets.

Remetullah and his wife, Shama, filed a personal bankruptcy in 2014, citing almost $800,000 in debts, which included a $572,000 foreclosure on his home in Dr. Phillips. The debts were discharged and the case was closed.

But the case was reopened in 2015 when some creditors alleged that Rehmetullah had attempted to flee the country, and had failed to report a collection of gold coins, diamonds and real estate he owns in Karachi, Pakistan; those allegations were detailed in a filing by a court-appointed trustee assigned to the case, Richard Webber, .

Webber recently sought a judges order requiring Rehmetullah to report additional assets. Instead of complying, or denying the allegations, Rehmetullahs attorney filed a response saying that reporting additional assets could violate his clients Fifth Amendment rights.

According to a filing by Ishrat Rehmetullahs lawyer, Jeffrey Ainsworth, There have also been suggestions that the debtors in this case will be referred to the United States Attorneys Office for criminal prosecution, which further shows that the debtors fear of criminal prosecution in this case is legitimate.

In a court hearing Tuesday, Ainsworth suggested the political climate in the U.S. could spell trouble for his client: If you look at the current administration, a Pakistani national living in the U.S. is probably a real target.

U.S. Bankruptcy Judge Cynthia Jackson said that the creditors in the case have a right to know if there were additional assets, but she took the matter under advisement and said she would give her opinion later.

Regarding the Fifth Amendment claim, she said: There has to be an imminent threat of criminal prosecution, and I dont see that.

Ishrat Rehmetullah sold a home in Pakistan shortly after filing for bankruptcy, and provided $75,000 from that sale to the bankruptcy trustee, but the trustee has questioned the value of that home. Rehmetullah also turned over some of his coin collection, which was sold for $2,400.

Rehmetullah is the father of two Orlando entrepreneurs who launched a financial technology startup in 2014 called Fattmerchant Suneera Madhani and Sal Rehmetullah. Both siblings were deposed in the bankruptcy case. In 2016, Sal Rehmetullah offered to pay $100,000 to prompt a settlement of his fathers debts, but later that offer was withdrawn. The siblings argued that their father is not formally part of the Fattmerchant business.

Ishrat Rehmetullah and his wife have registered several businesses with the state, including I Travel Florida LLC, Discount Holidays LLC, and Pizza Romas LLC, among others. They had also reported a loan of $100,000 from a Florida company called Oyster Bay Investments.

Got a news tip? pbrinkmann@orlandosentinel.com or 407-420-5660; Twitter, @PaulBrinkmann

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Orlando businessman cites Fifth Amendment in bankruptcy case - Orlando Sentinel