Ky. man pleads guilty in NY fraud case

LOUISVILLE, Ky. (AP) — A Louisville businessman has pleaded guilty to corruption, fraud, bribing New York bank officials and costing the Internal Revenue Service $53 million in losses.

The Courier-Journal (http://cjky.it/1wKxt2X) reports 53-year-old Wilbur Anthony Huff entered his plea in New York this week and agreed to pay more than $128 million in restitution and to forfeit $10.8 million to the U.S. government.

According to a release from the U.S. Attorney’s Office, Huff, among other things, diverted millions of dollars from one company he controlled to fund other business ventures and pay expenses for his family. Those included mortgages on his houses, designer clothing, jewelry, and luxury cars.

A federal judge could sentence Huff to up to 12 years in prison at a hearing scheduled for April.

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Information from: The Courier-Journal, http://www.courier-journal.com

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