Kansas City, Missouri – A Kansas man who once ran a healthcare company in Kansas City is now headed to federal prison after pleading guilty to bankruptcy fraud. On April 29, 2025, 62-year-old William L. Said of Stillwell, Kansas, was sentenced to 21 months behind bars and ordered to pay $85,000 in restitution—an amount he had already repaid by the time of sentencing, the Department of Justice said in a release.
Said’s downfall stems from his role as the owner and top executive of Restorative Brain Clinic, Inc., a facility that offered Transcranial Magnetic Stimulation therapy. Back in July 2021, the clinic filed for bankruptcy and was allowed to manage its remaining assets through what’s known as a debtor-in-possession account. Said, notably, was the only person authorized to access those funds.
But just months later, that control was stripped away after federal officials raised red flags. In September 2021, the U.S. Trustee for Region 13 filed a motion to convert the clinic’s case from Chapter 11 reorganization to Chapter 7 liquidation, citing mismanagement and the ongoing drain of estate assets. An evidentiary hearing was held in October 2021, and U.S. Bankruptcy Judge Dennis R. Dow ruled in favor of the conversion. He concluded that Said had engaged in self-dealing and failed to maintain proper oversight of company funds. At that moment, Said lost all authority over the clinic’s finances…