Ex-Home Depot exec pleads guilty in money laundering case

A former Home Depot executive pleaded guilty in federal court Tuesday to accepting more than $1.4 million in a money laundering scheme.

Ronald Douglas Matheny II, 42, of Chattanooga could face up to 30 years in prison and a $500,000 fine. He pleaded guilty in Atlanta to one count of conspiracy to commit mail fraud and wire fraud and one count of conspiracy to commit money laundering.

Matheny, who worked for Home Depot from May 1987 until July 2007, allegedly took kickbacks from other companies while working as a product merchant in the flooring department.

“This defendant abused the trust and authority given to him by his employer and lined his own pockets at the company’s expense,” said U.S. Attorney David E. Nahmias.

Matheny is scheduled to be sentenced on Aug. 3.