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Sadruddin brothers enter plea agreement, admit to fraud charges

Brothers Karim and Rahim Sadruddin have entered a plea agreement, admitting they are guilty of committing two counts of wire fraud and one count of conspiracy to commit money laundering, according to new documents filed in the United States District Court for the Eastern District of Tennessee. 

The brothers admit in the plea agreement, signed September 4, they were a part of a scheme that resulted in the loss of between $3.5 and $9.5 million to the United States, Tennessee Department of Economic and Community Development, and the Tennessee Valley Authority. The scheme came in connection with their false promises to create 1,000 jobs in Bledsoe County at the old Dura factory on Ferro Street.

For more, see the October 31 issue of The Bledsonian-Banner.

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