CHARLOTTE, N.C. -- The president of a paving company accused of helping defraud state and federal governments out of $87 million in road projects has pleaded guilty.

Carl Andrew Boggs III, part of owner of Bogg Paving, Inc., went before the U.S. Magistrate at the federal courthouse in Charlotte on Thursday. He pleaded to conspiracy to defraud the United States DOT and one count of money laundering.

Boggs and four employees are accused of receiving millions in federal and state highway contracts by overstating the role of a minority-owned contractor, Styx Cuthbertson Trucking Company, Inc.

To date, six people have pleaded guilty in this investigation.

Boggs has not yet been sentenced.

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