A man who fled to Spain after being indicted in 2002 in a pension fraud at Standard Coosa Thatcher is set to plead guilty in Federal Court in Chattanooga.
Roderick Askew, who was caught in 2011, faces 5-20 years in federal prison.
He is set to plead guilty to one count of money laundering.
Prosecutor Jay Wood said Askew was involved in a scheme to remove funds illegally from the pension fund.
He said in June 1999, Askew arranged the transfer of some $10 million from the pension fund from an account at a bank in Rochester, N.Y., to another bank account he had access to.
The prosecutor said Askew applied $9.2 million to a pension transaction, but he and others shared in the remaining $800,000.