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.

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