Brothers Karim and Rahim Sadruddin formally pleaded guilty to “large government fraud” in connection with the failed Textile Corporation of America venture in Pikeville in front of a federal judge in Chattanooga Wednesday morning, November 13. The Sadruddins each pleaded guilty to two counts of wire fraud and one count of money laundering.
The brothers were not detained after their pleas, but were given a list of conditions to follow prior to their sentencing in March 2020. One of the conditions includes turning over their passports to their supervising U.S. Probation Officer, according to documents filed in the U.S. District Court for the Eastern District of Tennessee.
Their sentencing hearing in March will determine how long their sentences will be. They face up to 30 years each.
For more, see the November 21 issue of The Bledsonian-Banner.