Western Ti takes small rap as execs cleared

Jan 14, 2011 | 09:16 AM |

A two-year criminal case against Western Titanium Inc. and four current or former executives is ending in dismissal of all counts against the employees and with one count sticking against the San Diego-based distributor, the company said.

Western Titanium agreed to plead guilty to one of 19 counts of felony mail fraud involving one shipment of so-called "non-conforming" titanium. The remaining 18 counts were dropped, along with the 19 felony counts against each of the four employees, including chief executive officer Daniel Schroeder, the distributor said.

"Western feels this settlement is in the best interests of the company and its customers, as it resolves all matters at issue in the investigation and avoids any further costs of litigation," the company said.....

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