Judge accepts guilty plea from road builder

TAMPA -- U.S. District Judge Susan C. Bucklew accepted guilty pleas today from Cone Constructors president Michael Cone, his wife and an employee in a conspiracy and bankruptcy fraud case.

Bucklew also set a sentencing date for all three on Jan. 11.

Federal prosecutors say that Cone and his co-defendants concealed more than $1-million in property after Cone Constructors filed for Chapter 11 bankruptcy in July 2000. A Tampa firm, Cone Constructors was once one of the state's 10 largest road builders.

Michael Cone pleaded guilty Friday to conspiracy to commit bankruptcy fraud and to wire fraud. He's facing a maximum 35-year prison sentence.

Joanne Cone, his wife, also pleaded guilty Friday to conspiracy to commit bankruptcy fraud. She's facing a maximum 5-year prison sentence.

Cone Constructors employee Patricia Rankin Grable pleaded guilty Oct. 3 to conspiracy to commit bankruptcy fraud and wire fraud. Like Michael Cone, she faces a maximum 35-year prison sentence.

Prosecutors say in court papers that they would ask for a sentence at the lower end of the guidelines, but Bucklew has the final say on how much prison time is given. By pleading guilty, the Cones and Grable avoided a trial that was scheduled to begin today.

They remain free on bail until their sentencing.

- Kevin Graham, Times staff writer