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MISSOULA, Mont. (AP) — The latest in the federal court case against the former chief financial officer of Vann's Inc., an appliance and electronics chain that filed for bankruptcy (all times local):
3:40 p.m.
The former chief financial officer of Vann's Inc., has pleaded guilty to a federal charge that alleged he conspired with the former CEO to defraud the electronics and appliance chain, causing it to file for bankruptcy.
Paul Nisbet acknowledged that he knew about and helped George Leslie Manlove charge personal expenses to Vann's — including college tuition, travel and entertainment expenses. Prosecutors also allege the men created a corporation to buy property that housed a Vann's store, then caused Vann's to make above-market lease payments to pay off the loan.
Nisbet entered his plea Wednesday before U.S. Magistrate Judge Jeremiah Lynch in Missoula. More than 200 other counts will be dismissed at Nisbet's Oct. 7 sentencing, if the plea agreement is accepted. The agreement called for Nisbet to pay $122,500 in restitution.
Manlove has pleaded not guilty and faces trial in October on more than 200 counts of conspiracy and fraud.
7:30 a.m.
The former chief financial officer of Vann's Inc., is scheduled to plead guilty to a federal charge that alleges he conspired with the former CEO to defraud the electronics and appliance chain, causing it to file for bankruptcy.
Paul Nisbet agreed to admit he knew about and helped George Leslie Manlove charge personal expenses to Vann's — including college tuition, travel and entertainment expenses. Prosecutors also allege the men created a corporation to buy property that housed a Vann's store, then caused Vann's to make above-market lease payments to pay off the loan.
Nisbet's change-of-plea hearing is set for Wednesday afternoon in U.S. District Court in Missoula. He has agreed to pay restitution.
Manlove has pleaded not guilty and faces trial in October on more than 200 counts of conspiracy and fraud.
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