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Virginia man pleads guilty to bankruptcy fraud

ABINGDON, Va. (AP) — The U.S. Department of Justice says a Virginia man who hid his ownership interest in a waste management company and didn’t report his employment and income from that business on a bankruptcy filing has pleaded guilty to bankruptcy fraud.

The U.S. Attorney’s Office for the Western District of Virginia says in a news release that David Bryan Stanley of Clintwood pleaded guilty Wednesday.

According to court documents, Stanley filed for Chapter 7 bankruptcy after testifying he was unemployed and had no income. Prosecutors say Stanley knew he had an ownership interest in and received income from a roll-off waste container business he established in 2016.

Stanley faces a maximum of five years in prison at sentencing in June.

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Filling out the Free Application for Federal Student Aid, or FAFSA, which opens by Dec. 31, is one of the most important steps students and their families can take to pay for college. Some states now make completing the FAFSA a high school graduation requirement. The U.S. Department of Education awarded about $111.6 billion in federal grants, loans and work-study funds in fiscal year 2022, according to the most recent Federal Student Aid annual report. Those federal funds will assist roughly 9.8 million students in completing their education.
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