Section 517.060 - Defrauding secured creditors(1) A person is guilty of defrauding secured creditors when he destroys, damages, removes, conceals, encumbers, transfers, or otherwise deals with property subject to a security interest with intent either to lower the value of the secured interest or unlawfully to hinder enforcement of that interest.(2) Defrauding secured creditors is a Class A misdemeanor unless the value of the property subject to the security interest is:(a) Five hundred dollars ($500) or more up to ten thousand dollars ($10,000), in which case it is a Class D felony; or(b) Ten thousand dollars ($10,000) or more, in which case it is a Class C felony.Amended by 2012 Ky. Acts ch. 93,§ 3, eff. 7/11/2012. Amended 1978 Ky. Acts ch. 342, sec. 1, effective 6/17/1978. -- Created 1974 Ky. Acts ch. 406, sec. 150, effective 1/1/1975.