The former boss pleaded guilty in Manhattan court, admitting his involvement in what prosecutors described as money laundering of unemployment benefits through the company's bank accounts and related entities.
The crime he is accused of could result in a prison sentence of up to ten years. No sentencing date has yet been set and the former finance director remains free on bail.
In his confession, he said he knew there was “a high probability” that the money passing through the accounts he was responsible for “was proceeds from criminal activity.”
