Associated Press - February 19, 2010 7:44 AM ET
LITTLE ROCK, Ark. (AP) - The former president and CEO of Little Rock-based Affiliated Foods Southwest Inc. has pleaded guilty to a fraud charge.
Fifty-9-year-old John Mills of Cabot pleaded guilty Thursday in federal court in Little Rock to the felony charge connected to a check-kiting scheme. Mills says the scheme was an effort to move money and keep Affiliated Foods in business.
Affiliated went out of business last year after filing for bankruptcy.
Mills faces up to 30 years in prison. A sentencing date has not yet been set.
Affiliated Foods was a wholesale cooperative that supplied grocery stores in Arkansas, Texas, Louisiana, Mississippi, Oklahoma and Tennessee.
Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com