Not guilty plea entered for former Fiat Chrysler executive

Markets Associated Press

A federal judge has entered a not guilty plea for a former Fiat Chrysler executive facing conspiracy and tax charges alleging a multiyear scheme to reward a late union official and his wife with first-class travel, designer clothing and jewelry.

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Al Iacobelli of Rochester Hills also is charged with making illegal payments to a union official.

The Detroit News reports that following his initial hearing Tuesday, Iacobelli surrendered his passport as a condition of his $10,000 unsecured bond. He declined to comment to reporters.

The government alleges Iacobelli took $1.2 million from a training center for workers in an alleged conspiracy involving United Auto Workers vice president General Holiefield and Holiefield's wife, Monica Morgan. Holiefield died in 2015. His wife was released on $10,000 unsecured bond following her arraignment Monday.

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Information from: The Detroit News, http://detnews.com/