Republic Windows CEO ordered held on bond for financial crimes

[n2doc]

Source: Chicago Breaking News

The former chief executive of Republic Windows and Doors, the Chicago company that abruptly shut down last year without paying severance and vacation pay to employees, has been charged as part of a major financial crimes investigation.

Richard Gillman, 56, was arrested Wednesday, police said. He's accused of looting Republic Windows by moving expensive equipment from the Chicago plant so he could set up shop at a business in Iowa, police said.

At a hearing at the Criminal Courts Building, Judge Peggy Chiampas set bond at $10 million for Gillman.

Veteran criminal defense attorney Ed Genson said his client would fight the allegations.

Read more: http://www.chicagobreakingnews.com/2009/09/republic-windows-and-doors-official-in-custody.html

---

Good to see this guy get nailed. Hope he gets the book thrown at him.

[bluestateguy]

1. I favor capital punishment for egregious white collar corporate crimes

They're economic terrorists.

[naaman fletcher]

4. he's also a dumbass...

He had no chance of getting away with this. It is fairly standard in a bankruptcy that the trustee and those owed money are going to see if you spirited away assets that could be used to pay them.

[apnu]

2. I'm sure they will throw the book at him.

Not only because is SOP with the police these days (charge a perp with everything under the sun and something's gotta stick is the philosopy) but its also very vogue to punish white collar crimes like this. It shows the local voters that the government is doing its job. At least until the voter is looking the other way and then its back to punishing first time drug offenders and letting rich white men off the hook.

[n2doc]

3. His real "crime" was that he wasn't rich enough

Now, if you're the CEO of Blackwater, you can get away with murder....

[apnu]

5. LOL, nice. I love a fellow cynic. (nt)

[Tsar_Bomba]

6. Many small business owners are just crooks

The reason they have a business is a scam so that others do the work you should be doing themselves, then sit on their ass and collect a paycheck. Just because someone owns something doesn't mean they can or will take good care of it.

[WriteDown]

10. Uh...this makes ZERO sense. nt

[greiner3]

7. Would it be too much of a stretch;

To say Gillman is a 'republic?'

[pattmarty]

8. You know what I hope? I hope this motherfucker spends a weeks..............

..........."all expenses paid" stay in beautiful Cook county jail at 26th and California. His (black & brown) roommates will "enjoy him" staying with them and whatever rectal problems he may have had or would have had in the future, will not be a problem for him anymore.

[Craftsman]

9. Good I hope they throw the library at him.