3 Ex-Officers Admit Wedtech Fund Theft

Three former executives of the scandal-plagued Wedtech Corp. pleaded guilty Friday to stealing $500,000 each from the firm and setting up a shell-company slush fund to bribe officials.

In exchange for the guilty pleas to second-degree larceny charges, they agreed to cooperate with investigations into possible participation by as many as a dozen city, state and federal officials, including members of Congress, in the scheme.

Phil Foglia, assistant Bronx district attorney, presented the plea agreement to state Supreme Court Justice Harold Enten.

Fred Neuberger, 59, former Wedtech chairman; Anthony Guariglia, 35, former president, and Mario Moreno, 45, a former company officer and director, admitted to stealing at least $500,000 each from Wedtech. The Bronx firm began as a small machine shop and mushroomed into a multimillion-dollar military contractor. It sought bankruptcy protection last year.