Charleston man pleads guilty in embezzlement
A Charleston investment adviser has pleaded guilty to embezzling from a company's employee benefit plan.
The federal prosecutor's office says 50-year-old Knox Fuqua entered his plea before U.S. District Judge John T. Copenhaver Jr. on Wednesday. Fuqua faces up to five years in prison when he is sentenced Sept. 28.
At the hearing, Fuqua admitted misappropriating and converting $600,000 from the Community Health Systems Inc. 401(k) plan to meet the demands of another client who sought the return of previous investments.