Posted Online: Dec. 11, 2012, 8:51 am
Man admits hiding settlement in bankruptcy case
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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.