Bealko, a former General Motors Corp. aluminum trader
imprisoned after admitting to taking part in a
multimillion-dollar kickback scheme, has been released from
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.
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 GMs 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).