University of Minnesota professor accused of embezzlement reaches deal

A University of Minnesota law professor accused of stealing millions of dollars from his father-in-law’s company has pleaded guilty in an agreement with prosecutors.

Edward Adams entered the plea Thursday to a misdemeanor charge related to federal income taxes. Prosecutors agreed to drop the more serious charges and recommend probation with no time behind bars.

The St. Paul Pioneer Press says the 56-year-old Adams was indicted in 2017 and accused of stealing more than $4 million from investors in a diamond-growing company, Apollo Diamond, between 2006 and 2013.

Adams is expected to be sentenced in January when prosecutors will dismiss 14 felony counts of wire and mail fraud, plus other tax charges. Adams is still employed at the university.

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