Ex-CEO of suburban Chicago company acquitted in federal case

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CHICAGO (AP) — A federal judge has acquitted the former CEO of a suburban Chicago manufacturing company of all charges in a case that accused him of inflating revenue reports by $24 million. U.S. District Judge Robert Gettleman cleared Gary Winemaster of all counts Monday following a four-week bench trial. The Chicago Sun-Times reports Winemaster is the former CEO of Wood Dale-based Power Solutions International Inc. He was accused of orchestrating a complex accounting “bill and hold” scheme in which incomplete sales were recorded as complete. Winemaster had faced 10 counts of wire fraud, as well as counts of securities fraud, making false statements and failing to certify financial reports.

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