Aaron Rossi, former CEO of Reditus Labs, has pleaded guilty to federal mail and tax fraud charges stemming from a scheme from when he was employed with Bloomington-based Central Illinois Orthopedic Surgery, according to a Feb. 6 report from NPR network WGLT.
Mr. Rossi pleaded guilty to one count of tax fraud for withholding income on his tax return and one count of mail fraud, with six additional charges dropped as part of a plea agreement.
Mr. Rossi has been accused of using the orthopedic practice's funds to purchase personal items including expensive suits, a TV and a charter plane for his bachelor party.
Mr. Rossi admitted to using the funds illegally in court and admitted to withholding income information from his accountant in 2016.
He faces up to three years in prison for tax fraud and up to 20 years for mail fraud. He could also have to pay up to $500,000 in fines. His sentencing is scheduled for early June.