Wedtech Founder Pleads Guilty

NEW YORK —  A co-founder of Wedtech Corp., the South Bronx machine shop that became a multimillion-dollar military contractor through bribery, pleaded guilty today to lying and obstruction of justice at the trial of Rep. Mario Biaggi and six others.

Fred Neuberger, 61, who founded the firm with John Mariotta, a convicted Biaggi co-defendant, admitted attempting to conceal more than $70,000 in a Barclays Bank account he opened using a false Social Security number. Neuberger faces 10 years on the obstruction count and five years on the perjury count, according to the office of U.S. Atty. Rudolph Giuliani.