American Italian Pasta execs plead guilty to fraud charge
Former Chief Executive Officer Timothy S. Webster and former Chief Financial Officer Warren B. Schmidgall both pleaded guilty to a single count of conspiracy to commit wire fraud. The U.S. attorney's office in Kansas City said American Italian Pasta also agreed to pay a $7.5 million fine related to the conduct of its former management.
Webster and Schmidgall face up to five years in prison and $250,000 in fines.
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