Contractor pleads guilty in S.C. case involving assets hidden from surety

07/10/2013 | Sun News (Myrtle Beach, S.C.), The

A South Carolina construction contractor has entered a guilty plea on a federal charge that he conspired to commit money laundering. The contractor is accused of trying to conceal assets from the surety for an interstate-paving project. The contractor began to hide assets after defaulting on the project and leaving the surety to pay more than $6 million to finish the project, according to prosecutors. The contractor is awaiting sentencing after a plea agreement requiring him to give up $1.2 million in property and assets in exchange for prosecutors dropping six other felony charges.

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Sun News (Myrtle Beach, S.C.), The

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