Roderick Askew, who was charged with stealing money from the pension fund of workers at Standard Coosa Thatcher Yarns Inc., entered a guilty plea today in federal court.
U.S. Magistrate Judge Susan K. Lee accepted Askew’s plea agreement, which means other charges will be dropped.
Askew pleaded guilty to one count of conspiracy to commit money laundering.
He will be sentenced on June 20.
Askew and two other men had faced charges in the conspiracy that endangered the retirement money for 1,300 SCT workers.