A federal grand jury has indicted a Honolulu man for alleged bankruptcy fraud after he was accused of hiding $350,000 in his home.

Ben Fukuyama claimed he had only $140 in cash and $2,010 in a bank account when he filed for bankruptcy in July 2009, the indictment said.

But Fukuyama allegedly had $350,000 in cash, the government said.

The Internal Revenue Service handled the investigation that led to his indictment.

The indictment, filed Wednesday in U.S. District Court in Honolulu, charged Fukuyama with concealing his assets, purchasing property with illegal funds of more than $10,000, and evading reporting requirements.

The charge of evading reporting requirements stems from 37 bank deposits Fukuyama made this year — 34 of which were for $9,900. The deposit amounts avoided the $10,000 threshold for which banks have to report transactions to the government.

According to the indictment, the fraud began with Fukuyama taking a $344,000 loan against his mortgage in April 2009. He deposited the loan into his account and withdrew it in a series of transactions.

In July 2009, he filed for bankruptcy, claiming to have a Kapiolani Boulevard condo worth $375,000 and liabilities of $2.4 million. The liabilities included a $1.7 million contract to buy a condo in the Trump International Hotel & Tower in Waikiki.

After filing for bankruptcy, he and his wife bought an $305,000 apartment in Waikiki in May. About the same time, he deposited $343,900 into his bank account.

When questioned by an investigator, Fukuyama said he filed for bankruptcy to get out of a contract for the condo at Trump International Hotel.

The indictment said, if convicted, Fukuyama must forfeit his Waikiki apartment in the Coral Terrace Apartments on Aloha Drive.