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A Florida businessman has pleaded guilty to charges he embezzled nearly $1 million from the bankruptcy estate for a company that operated a chain of Popeyes fast-food restaurants in Louisiana, Alabama and Florida

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BATON ROUGE, Louisiana — A Florida businessman has pleaded guilty to charges he embezzled nearly $1 million from the bankruptcy estate for a company that operated more than two dozen Popeyes fast-food restaurants in Louisiana, Alabama and Florida.

Federal prosecutors say 45-year-old William "Wil" Ros, of Cortez, Florida, used some of the stolen money to purchase a $225,000 race car and to renovate his home.

Ros pleaded guilty during a court hearing Thursday in Baton Rouge, Louisiana.

Ros was the chief financial officer of Louisiana-based Fundamental Provisions LLC, which was placed in involuntary bankruptcy in 2012.

Prosecutors say Ros used his company position to direct restaurant managers to divert revenue from cash registers for his personal benefit.

A court filing says Ros embezzled approximately $966,000 from the company's Alabama restaurants during its bankruptcy proceedings.

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