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Former Wildwood Owners Plead Guilty in Fraud
PEORIA, Ill. (AP) -- The former owners of Bloomington's bankrupt Wildwood Industries have pleaded guilty in federal court for their role in defrauding lenders of more than $213 million in a Ponzi scheme that lasted nearly a decade.

Sixty-eight-year-old Bloomington resident Gary Wilder admitted to money laundering and bank fraud during a Wednesday appearance in U.S. District Court in Peoria. His 63-year-old wife, Toni Jo Wilder, pleaded guilty to conspiracy to commit money laundering.

Three other people once connected to Wildwood pleaded guilty to related charges in March.

Wildwood once employed more than 700 workers. The manufacturer of lawn, leaf and vacuum bags was forced into bankruptcy in March 2009 by creditors and sold two months later for about $2 million.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
07 14 10 by Newsroom
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