Harrelson CEO to plead guilty
The owner of Harrelson Automotive is now pleading guilty to aiding and abetting the fraudulent activity of his employees. Last month ten of Louis Harrelson's workers were indicted on charges of falsifying down payments and tax documents in order to sell more cars. Documents unsealed today say Harrelson should have known about the fraud and done more to stop it. Harrelson's attorney, Pete Anderson says the criminal charges are disappointing, since Harrelson went out of his way to cooperate with the investigation. "While he was aware of certain conduct and admitted to certain conduct, he was not the one that came up with the idea and did not perpetuate," says Anderson. "But Mr. Harrelson did take responsibility for not detecting it at an earlier time period and correcting it." If accepted by the U.S. District Court, the 79-year old Harrelson will serve two year's probation and pay more than $1 million in restitution. He will also resign as CEO of Harrelson Automotive, but will still own the business. According to the U.S. Attorney, fraudulent practices by Harrelson's employees cost lending institutions $1.2 million between 1999 and 2005.