Former Humboldt Creamery CEO pleads not guilty

SAN FRANCISCO - The former CEO of Humboldt Creamery says he's not guilty of fraud in connection with financial problems that bankrupted the former farmer cooperative.

Rich Ghilarducci entered his plea in federal court Wednesday. The judge ordered him to surrender his passport and not travel outside of California, Arizona and Nevada while prosecutors continue work on a plea agreement.

The U.S. Attorney's office charged Ghilarducci with making false statements to creditors implying the creamery had millions more cash on hand than it did.

He resigned abruptly last February, leaving dairy operators unpaid for their milk and local businesses in a financial lurch.

Ghilarducci faces 30 years in prison and a fine of up to $1 million, if convicted.

U.S. Attorney Jonathan Schmidt has asked for 90 days to settle the case.

___

Information from: Times-Standard, http://www.times-standard.com

UPDATED: Please read and follow our commenting policy:
  • This is a family newspaper, please use a kind and respectful tone.
  • No profanity, hate speech or personal attacks. No off-topic remarks.
  • No disinformation about current events.
  • We will remove any comments — or commenters — that do not follow this commenting policy.