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Ex-NC Executive Pleads Guilty To Fraud Scheme

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File photo of a gavel in a courtroom.  (Credit: Thinkstock)

File photo of a gavel in a courtroom. (Credit: Thinkstock)

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CHARLOTTE, N.C. (AP) — The former chief financial officer of a Monroe paving company has pleaded guilty in federal court for his role in an $87 million scheme involving government-funded construction project.

A statement from the U.S. Attorney’s Office says 43-year-old Kevin Hicks pleaded guilty on Tuesday to one count of conspiracy to defraud the U.S. Department of Transportation and one count of money laundering conspiracy.

According to court documents, Hicks, Boggs Paving and seven other defendants conspired to get federal and state construction contracts by saying a disadvantaged business or a small business would do the work and be paid for their part.

Court records say the defendants ran payments through a bank in the name of a road construction hauler, then funneled the money back to Boggs paving.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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