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."
