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Former GM aluminum trader Bealko released

Keywords: Tags  Daniel Bealko, Federal Bureau of Prisons, CFTC, General Motors, aluminum, aluminum trader, Demetrius Brown, Michael Cowden


CHICAGO — Daniel Bealko, a former General Motors Corp. aluminum trader imprisoned after admitting to taking part in a multimillion-dollar kickback scheme, has been released from federal custody.

Bealko, once an influential figure in the aluminum industry, had been living at a halfway house in Texas (amm.com, June 11). He was released July 12, according the website of the Federal Bureau of Prisons. He will be under supervised release for three years.

AMM was unable to locate contact information for Bealko.

Bealko, a global commodities manager of lightweight metals at GM from 1996 to December 2003, pleaded guilty to fraud and tax evasion in U.S. District Court in Chicago in March 2010. He was sentenced to 70 months in prison and ordered to pay $6.5 million in restitution (amm.com, March 17, 2010). He also had been banned from trading by the Commodity Futures Trading Commission (amm.com, Sept. 20, 2010).

Bealko had been charged with diverting sales from GM’s aluminum stockpile to Fuci Metals USA Inc., a company owned by Anthony Demetrius Brown of Highland Park, Ill., in return for bribes. The FBI began investigating in 2006 following a complaint from the automaker. Brown, a co-defendant in the criminal case, was sentenced to 30 months in prison and ordered to pay $6.5 million in restitution (amm.com, March 25, 2010).


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