Lexington, KY — A former Pikeville business owner has pleaded guilty in federal court to violating U.S. Bankruptcy laws. 63-year-old Barry E. Sanders the former owner and CEO of Trailblazers, Inc., an auto and truck parts supply business formerly located in Lexington and Pikeville, admitted that while Trailblazers Inc. was in the process of contemplating bankruptcy in the summer of 2013, he transferred $315,000 from the business to his personal banking accounts using four cashier’s checks. Sanders then knowingly concealed the receipt of those funds, by failing to report the cash transfers. Senior U.S. District Court Judge Joseph M. Hood accepted the guilty plea of Sanders and set a sentencing date of December 9th of this year. Sanders faces up to five years in prison and a fine of $250,000.