Judge Accepts Guilty Pleas In $29M Rite Aid Scheme

Law360, New York (February 10, 2015, 8:09 PM EST) -- A former Rite Aid Corp. vice president and a liquidation business owner pleaded guilty Tuesday in Pennsylvania federal court to felony charges in connection with an alleged nine-year kickback scheme involving the sale of surplus inventory that defrauded the pharmacy giant of $29.1 million.

U.S. District Judge John E. Jones III accepted the guilty pleas of Timothy Foster and Jay Findling, the owner of J. Finn Industries LLC, in charges stemming from their alleged surplus inventory scheme that occurred while Foster served as Rite Aid's vice president for quality assurance between 2001 and 2010. According to prosecutors, Foster pled guilty to...

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