Man admits hiding settlement in bankruptcy case


Share
Posted Online: Dec. 11, 2012, 8:51 am
Comment on this story | Print this story | Email this story

BENTON, Ill. (AP) A southern Illinois man admits he illegally kept a bankruptcy trustee from knowing he was to get more than $10,000 from a train derailment settlement.

David Woodside of Tamaroa pleaded guilty Friday to one count of fraudulently concealing assets from a U.S. trustee in his 2009 bankruptcy case.

Prosecutors say Woodside was seeking relief from more than $49,000 he owed to creditors when he repeatedly failed to disclose he was to get the settlement from a class-action lawsuit.

That payout was related to a 2003 train derailment in the center of his town of about 1,000 people about 65 miles southeast of St. Louis. No one was injured.

Woodside is to be sentenced April 12.














 



Local events heading








  Today is Thursday, April 24, the 114th day of 2014. There are 251 days left in the year.

1864 -- 150 years ago: We learn that it is a contemplation to start a paper mill in Rock Island during the summer by a gentleman from the East.
1889 -- 125 years ago: The gates of Oklahoma were swung open at noon today, and a throng of more than 30,000 settlers started over its soil.
1914 -- 100 years ago: The Iowa Coliseum Co. was incorporated with $40,000 capital and planned a building on 4th Street between Warren and Green streets in Davenport.
1939 -- 75 years ago: Plans are being discussed for resurfacing the streets in the entire downtown district of Rock Island.
1964 -- 50 years ago: Some 45 jobs will be created at J.I. Case Co.'s Rock Island plant in a expansion of operations announced yesterday afternoon at the firm's headquarters in Racine, Wis.
1989 -- 25 years ago: Gardeners and farmers cheered, but not all Quad-Citians found joy Saturday as more than an inch of rain fell on the area. Motorists faced dangerous, rain-slick roads as the water activated grease and grime that had built up during dry weather.








(More History)