Grinstead admitted he failed to file income tax returns for 2009 and 2010. According to the U.S. Attorney’s charges, he had a gross income of about $750,000 for 2009 and almost $1.9 million for 2010.
“This case involves the chief executive officer of a company who allowed officers and employees to continue cheating the government on contracts involving military bases and schools while, at the same time, he continued to steal from the company,” U.S. Attorney Joyce White Vance said in a news release.
Edwin Adams founded Adams Produce in 1903. The company grew to include distribution centers across the southeast U.S. the Adams family sold the company to executives and a private equity firm in 2010. The company filed for bankruptcy in 2012, ceasing operations in April.