A former Midland businessman owns up to bankruptcy fraud.
49-year-old David Montealegre pleaded guilty to defrauding the U.S. Bankruptcy Court.
He owns Computron USA and filed for bankruptcy 6 years ago.
Turns out he was hiding some assets from his creditors and bankruptcy court.
Montealegre fessed up that he failed to disclose thousands of dollars.
He received money from insurance claims, the sale of a tour bus and had dozens of bank accounts.
He also had a home in Mexico.
Montealegre faces up to five years in federal prison and a $250,000.