BIRMINGHAM, AL - Steven Finberg, former Chief Operating Officer for Adams Produce, pled guilty this week to playing a part in a scheme to defraud the federal government.
As we previously reported, Finberg and several other executives for the produce company were indicted last year for one count of conspiring to defraud the government and 32 counts of wire fraud. Finberg has since been on a trial for these charges, but the proceedings were reportedly brought to a halt last week when he entered a guilty plea for a lesser charge, according to an AL.com report.
"Steve Finberg was the COO of Adams Produce from 2007-2012,” Finberg’s legal representative firm Sheffield & Lentine said in a statement response to AL.com’s request for comment. “In the early fall of 2011 Mr. Finberg became aware of wrongdoing at Adams and did not immediately report that wrongdoing to the Government. The agreement reached with the Government reflects Mr. Finberg's desire to accept responsibility and put this matter to rest.”
Finberg will be responsible for jointly paying back $481,000, along with the other former Adams executives that have previously pled guilty in the scheme. Those found guilty include:
- David Scott Grinstead, former Adams CEO
- John Stephen Alexander, former CFO for Adams Produce
- David Andrew Kirkland, former Director of Purchasing at Adams
- Michael John O'Brien, former General Manager for the Adams Produce Distribution Center in Pensacola, Fla.
- Christopher Alan Pfahl, former Adams Produce Official
- Stanley Joel Butler, former Purchasing Agent for Adams
According to AL.com, Finberg is expected to pay $75,000 in restitution himself, per his plea bargain, before being sentenced. Because he accepted responsibility, the case’s prosecuters will reportedly recommend he be credited with coming forward and doing so. Currently his sentencing cannot exceed three years in prison, nor can he be fined more than $250,000.
Court records state that Finberg’s arraignment is scheduled for May 26 before U.S. District Court Judge Scott Coogler, located in Tuscaloosa, AL. AndNowUKnow will continue to keep you up to date as he stands in court with a new charge and a new plea, so stay tuned.
