The former head of labor relations at Fiat Chrysler, Al Iacobelli, has pleaded not guilty to conspiracy to defraud the United States, among other charges, and was released on bond. He’s accused of milking millions of dollars from the UAW-Chrysler National Training Center employee training fund and illegal dealings with former United Automobile Workers vice president General Holiefield and his wife Monica Morgan, an unnamed union official, and Fiat Chrysler financial analyst Jerome Durden.
The other charges included conspiracy to violate the Labor Management Relations Act, delivering money and lavish gifts to ranking union officials, and multiple counts of falsifying tax returns. Prosecutors allege that the disgraced executive took over a million dollars for himself and helped funnel another $1.2million from the training center to his co-conspirators in 2015. Fiat Chrysler fired Al Iacobelli that same year when, according to the company, they first became aware of any wrongdoing.
It’s no wonder his bosses and the government found out. Apparently, the criminal mastermind spent his money like it was going out of style. He paid off $300,000 in credit card debt, leased private jets, bought a $350,000 Ferrari 458 Spider, a $100,000 swimming pool, and spent another $75,000 on landscaping…wow, have to admit the dude embodied go big or go home. But did he really think no one would notice?
Co-conspirator Jerome Durden is expected to plead guilty any day now. It should be fun to see who else he tries to bring down with him, should he be found guilty.