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Former Republic Window And Doors CEO Pleads Guilty To Theft

By aaroncynic in News on Dec 4, 2013 8:40PM

Richard Gillman
Former Republic Window and Doors Richard Gillman will plead guilty to stealing $10 million from the company. Crain’s reports Richard Gillman met with prosecutors Tuesday to discuss the case.

Prosecutors charged Gillman in 2009 with multiple counts of theft, fraud and misappropriation. They alleged he planned to close the plant and move equipment to a non-union location in Iowa. Gillman rejected a deal from Cook County prosecutors last month which would’ve called for a four year prison sentence and $100,000 fine. The former CEO could have faced six to 30 years in jail if convicted at trial.

In 2008, workers at Republic Window and Doors staged a sit-in after they were laid off without receiving severance or back vacation pay. The factory was later purchased by Serious Energy, who attempted to pull a similar maneuver last year; workers responded with another occupation. Since then, the plant has moved to McKinley Park and become a worker-owned cooperative called New Era Door and Window.

According to the Tribune a trustee handling Republic’s bankruptcy alleged Gillman's criminal actions dated back to 2004 when a series of real estate deals tanked the company but handed nearly $8 million to Gillman and another company executive who has not been charged. The trustee also alleges that Gillman managed to net himself a $320,000 bonus in 2007.

Edward Genson, Gillman’s attorney, said they plan to enter a plea tomorrow.