Renegade Tobacco owner Calvin Phelps may serve up to 43 years in prison - Winston-Salem Journal: Business

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Renegade Tobacco owner Calvin Phelps may serve up to 43 years in prison

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Posted: Friday, June 15, 2012 1:17 pm | Updated: 12:34 pm, Wed Dec 12, 2012.

Calvin Phelps' cigarette export scheme to avoid tobacco settlement payments of about $4.98 million could cost the Mocksville businessman up to 43 years in prison.

Phelps, owner of four bankrupt tobacco companies, pleaded guilty Thursday to federal charges of committing fraud, making false statements and unlawful financial transactions.

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  • WEST END OPERA HOUSE

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