Former Republic Window And Doors CEO Pleads Guilty To Theft
By aaroncynic in News on Dec 4, 2013 8:40PM
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.