BIRMINGHAM, AL - Carl Adams III, former owner for Adams Produce, has spoken out for the first time concerning the situation of what was once one of the more prominent Birmingham, Alabama, family-owned businesses via a letter and memorandum sent to U.S. District Court Judge Virginia Hopkins.
According to AL.com, Adams’ note requested no prison time for John Stephen Alexander, the man he initially named a key culprit in the demise of his family’s business, second only to former CEO Scott Grinstead.
"The demise of Adams probably cost me personally more than most anyone else," he wrote in his letter, according to the report, adding that he has held tremendous animosity against Alexander since the company failed.
Adams noted that since the company closed and filed bankruptcy in 2012, he has suffered both psychological and emotional damage, as well as having lost about $5 million and having to come out of retirement. "I saw my family business of 109 years disappear," he wrote.
But for all that, he only asks for probation or home detention in the memorandum his attorneys delivered to Judge Hopkins, much more lenient than the year of prison time prosecutors are reportedly seeking to secure.
As we previously reported, Alexander, who is the former CFO of Adams Produce, had been charged last year with one count of conspiracy and 32 counts of aiding and abetting wire fraud for failing to report the situation to the government. It is former CEO Scott Grinstead, Adams feels, is firstly and intentionally responsible.
According to the letter, Adams recently visited Alexander and received answers to all his questions. “He accepted all the blame I assigned to him with no excuses," he wrote, saying he only saw a broken man that was truly regretful, not for being caught but because he was wrong.
"He is crushed financially," Adams wrote. "He is an albatross to most of his friends. He has and will continue to suffer greatly for his actions. His life will never be the same."
According to AL.com, the letter ended with Adams declaring that while Alexander is still indebted to the government, his debt to the Adams family has been paid, and that is enough for him.
