mont blanc sa Former Fiat Chrysler exec pleads guilty

montblanc pen Former Fiat Chrysler exec pleads guilty

In a July 25, 2011, file photo, from left, General Holiefield, vice president of the United Auto Workers union; UAW President Bob King and Alphons Iacobelli, vice president of employee relations for Chrysler, shake hands

In a plea deal, Former Fiat Chrysler labor relations chief Al Iacobelli will get a maximum net sentence of eight years in exchange for his guilty plea to conspiracy and tax evasion charges. The sentence could be reduced when he is sentenced in May. District Judge Paul Borman that he turned over to federal prosecutors the cash equal to the value of the Ferrari sports car that investigators found in his garage $354,000. He also surrendered what became the case most talked about illicit loot: two Mont Blanc fountain pens, valued at $38,000 each. Soon after he was indicted, Iacobelli reportedly sold the elite Italian sports car.

Altogether,
mont blanc sa Former Fiat Chrysler exec pleads guilty
the former auto executive agreed to pay restitution of less than $835,523 for fines, interest and income tax he failed to pay, he told the court. He said that in the course of making illegal payments and gifts to union leaders that he was on behalf of Fiat Chrysler, presumably with the goal of influencing union leaders to favor his employer, on the shop floor and at the bargaining table. Another of the alleged co conspirators Monica Morgan, widow of former UAW vice president and Chrysler unit head General Holiefield is expected to plead guilty to charges in the scandal. Both Iacobelli and Morgan previously pleaded not guilty.

The conspiracy amounts to one of the largest scandals ever to mar the reputation of the UAW, just as union leaders fight losses of organizing drives last year at auto plants in the South and as they prepare for their big convention in June in Detroit to elect new leaders.

Both the UAW’s and Fiat Chrysler’s top executives last year denied that the torrent of cash and gifts had any effect on the company’s relations with the UAW. Neither issued any fresh comment on the scandal Monday.

Last year, in a statement, Fiat Chrysler CEO Sergio Marchionne said, “I join Dennis Williams, the UAW president, in expressing my disgust at the conduct alleged in the indictment which constitutes the most egregious breach of trust by the individuals involved. I also join Dennis in confirming that this conduct had nothing whatsoever to do with the collective bargaining process.”

Two others have pleaded guilty in the scheme: Fiat Chrysler financial analyst Jerome Durden, and retired UAW associate director Virdell King.
mont blanc sa Former Fiat Chrysler exec pleads guilty