Does a diversion of assigned account receivable checks from a debtor corporation to another corporation controlled by the debtor corporation constitute concealment of assets?

In United States v. Klupt, 475 F.2d 1015 (2d Cir.1973), the diversion of four assigned account receivable checks to another corporation controlled by the defendant was found to constitute concealment of assets of the debtor corporation, despite the later return of proceeds of the checks. Similarly, the deposit of seven assigned account receivable checks to debtor corporation's payroll account, instead of forwarding them to the factor, was found to constitute concealment of assets of the debtor.