Republic Windows and Doors CEO Heads to Court
Cook County
Richard Gillman is back in court today.
Richard Gillman, the former CEO of Republic Windows and Doors, heads to court today for a preliminary hearing over charges that he schemed to bankrupt his own company.
Gillman is charged with mail fraud, money laundering, organizing and continuing a financial crime enterprise and felony theft.
Earlier this month he was released on bond after the price was lowered from $10 million.
Prosecutors say the 56-year-old created shell corporations to defraud his company, Republic Windows and Doors of more than $200,000.
Republic Windows and Doors was the site of a labor sit-in that involved more than 200 employees. The sit-in, which was designed to draw attention to the workers’ plight – layoffs with no severance or benefits – drew national attention.
The incident was chronicled in Michael Moore’s new documentary, “Capitalism: A Love Story.”
Some of the workers reclaimed their jobs making windows when Serious Materials bought the former Republic factory in February for $1.45 million in bankruptcy court.
Prosecutors allege Gillman stole manufacturing equipment and concealed it in 10 semi-trailers -- transporting three to Red Oak, Iowa, and hiding the remaining semi-trailers in a trailer park. He also allegedly removed business equipment, destroyed documents, created phony receivables and engaged in computer "hacking."
Posted Monday, Oct 5, 2009 - 11:15 AM CST
