CEO of Colbert Co. Railcar Plant Extradited, Bond Hearing Set

Aziz mug

COLBERT COUNTY, Ala. (WHNT) – The CEO of the former National Alabama Corporation who was arrested last Friday and indicted for alleged securities fraud has been extradited.

The Colbert County District Attorney, along with the Alabama Securities Commission, announced the charges against Gregory James Aziz on Nov. 15.

In short, the indictment accuses Aziz and his brother, Warren Aziz, of not disclosing to RSA that they had known all along the cost to build the plant would far exceed the budget given to RSA, and it was part of their plan to keep this hidden until they had drawn and spent substantially all of the original loan proceeds.

Aziz was extradited from Cook County, Ill. to Colbert County, Ala on Tuesday.  He has a bond hearing set for Thursday.

Follow

Get every new post delivered to your Inbox.

Join 650 other followers