A former Rockwood resident and head of Kaiser Himmel Corp. pleaded guilty Wednesday in federal court to securities fraud, said the U.S. Attorney for the Southern District of New York.
Eric Skys, 26, former Kaiser chairman, president and CEO, pleaded guilty to all five counts of an indictment charging him with securities fraud, wire fraud and bank fraud.
Federal authorities said Skys engaged in a scheme to defraud Citibank of more than $80 million.
In August 2007, Skys tried to obtain a loan from Citibank in exchange for pledging millions of shares of Sprint Nextel Corp. stock that he claimed to own.
During his guilty plea, Skys admitted that he owned no such stock and had forged the documents he submitted to Citibank.
Skys faces a maximum of 30 years in prison when he is sentenced Nov. 6.
In other police-related news:
Assault trial postponed
The aggravated assault trial of Stephen C. Shesko, 61, of Seward, in connection with the death of a Belsano man has been delayed until the December term of Indiana County court.
The case had been scheduled for trial in the August criminal court term.
Police said Shesko beat Erick D. Melius, 28, in a quick, bloody fight in November.
Melius was treated for a broken nose at Memorial Medical Center but checked himself out the same day. He died two days later.
A revised pathology report said Melius may have died of drug toxicity, so murder charges initially filed against Shesko were dropped.
Authorities believe the confrontation began when Melius taunted some Amish men in Shesko’s hunting party.
2 accused of copper theft
Two Cambria County men have been arrested on charges of stealing copper wire from Torrance State Hospital in Derry, Westmoreland County, between June 1 and July 22.
Richard Bishop, 30, of Carrolltown, and Greg Gillen, 44, of Johnstown, were charged Monday, state police from Greensburg said.
Both are charged with unlawful taking and receiving stolen property.
A fingerprint order has been requested, police said.
Altercation leads to charges
Three Somerset Borough residents are being cited for disorderly conduct and harassment following a physical altercation Tuesday evening in the 800 block of Village Way.
Police identified those being cited Thursday as Herbert Shalley Jr., Tina Layman and William Shalley Sr.
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Former resident pleads guilty to federal fraud charges
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