published Tuesday, April 1st, 2014

AL scrap yard owner to forfeit $1.3 million in plea deal

BIRMINGHAM, Ala. — The owner of an Alabama scrap yard is turning over more than $1 million in a plea deal with the federal government.

Prosecutors say 61-year-old Edward M. Hindman pleaded guilty to structuring about $120,000 in bank transactions to avoid government scrutiny.

Hindman is the owner of Hindman's Wrecker Service and Salvage in Talladega. An indictment returned in January accused him of making a series of bank transactions to avoid federal requirements involving amounts of $10,000 or more.

A statement from prosecutors says Hindman agreed to forfeit $1.3 million as he pleaded guilty to structuring cash transactions. Records show prosecutors were initially seeking $8.5 million from the man.

The indictment accused Hindman of engineering the transactions as part of a pattern of illegal activity.

Sentencing is set for June 26.

about Associated Press...

The Associated Press

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.