FORMER ALLIED EXEC PLEADS GUILTY TO FRAUD
Michael Domecq, the former president and co-owner of Domecq Importers Inc. of Larchmont, N.Y., and Old Greenwich,Conn., today pleaded guilty and has agreed to serve 10 years in prison for conspiring to commit tax fraud and to defraud Allied Domecq.
Michael was originally indicted in 2000 in U.S. District Court in Manhattan for participating in a scheme to divert more than $14.6 million from Domecq Importers into personal offshore bank accounts. The conspiracy took place from at least as early as 1989 until October 1995, according to a press release.
Domecq was the president of Domecq Importers until 1995 and then he became the president of Allied Domecq Spirits & Wine, Latin America.
Three former top executives of Domecq Importers – cfo Alfredo Valdes, vp of marketing Gabriel Sagaz, and vp of sales Thomas Kaminsky -- previously pleaded guilty to charges related to the same conspiracy.
Sentencing for Domecq is set tentatively for August 15, 2007.
Michael was originally indicted in 2000 in U.S. District Court in Manhattan for participating in a scheme to divert more than $14.6 million from Domecq Importers into personal offshore bank accounts. The conspiracy took place from at least as early as 1989 until October 1995, according to a press release.
Domecq was the president of Domecq Importers until 1995 and then he became the president of Allied Domecq Spirits & Wine, Latin America.
Three former top executives of Domecq Importers – cfo Alfredo Valdes, vp of marketing Gabriel Sagaz, and vp of sales Thomas Kaminsky -- previously pleaded guilty to charges related to the same conspiracy.
Sentencing for Domecq is set tentatively for August 15, 2007.
posted at 1:17 PM
<< Home