Former CEO of bankrupt Ala. company faces charges
BIRMINGHAM, Ala. (AP) — Federal prosecutors have charged the CEO of Adams Produce Co. with fraud, failure to report a felony against the government and failure to file federal income tax returns.
U.S. Attorney Joyce White Vance said Tuesday charges were filed against former Adams Produce Chief Executive Officer Scott David Grinstead. Vance said prosecutors have an agreement in which the 45-year-old Grinstead agrees to plead guilty.
Vance said Grinstead agreed to pay $450,000 in restitution for the company's employees who were not fully paid due to the company's abrupt closing and its filing for bankruptcy last year.
Another former Adams official, Christopher Alan Pfahl. was charged in December with conspiracy to defraud the federal government. The Birmingham-based company was for years a leading distributor of fresh fruit and vegetables in the southeast.