- Associated Press - Wednesday, January 21, 2015

ALBUQUERQUE, N.M. (AP) - The former owner of a Gallup-based oil-distribution business faces possible prison time for bankruptcy fraud.

Michael Mataya of Thoreau pleaded guilty on Friday to a charge accusing him of making false statements in his company’s bankruptcy case.

The U.S. Attorney’s Office says a plea agreement requires Mataya to pay nearly $266,000 of restitution to the company’s bankruptcy estate and allows prosecutors to recommend that he be sentenced to up to two years in prison.

Mataya formerly owned Indian Capitol Distributing Inc. The restitution is intended to go to repay the business’ bankruptcy creditors.

A sentencing date for Mataya has not been set.

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