Manufacturing CEO seeks distance from man convicted in Ponzi - WAOW - Newsline 9, Wausau News, Weather, Sports

Manufacturing CEO seeks distance from man convicted in Ponzi

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MILWAUKEE (AP) -- The CEO of manufacturer Johnson Controls Inc. is answering questions about why he gave millions to a man convicted in a $50 million Ponzi scheme, saying he -- like many others -- is a victim.
   Alex Molinaroli's link to Joseph Zada was revealed in divorce papers and records from a federal trial in Florida. Zada was found guilty of running a 10-year scam.
   Molinaroli has said he loaned Zada money, which Zada used for his defense, but he never offered to pay restitution and bought Zada's house with an eye on recovering its worth.
   He says there's no inconsistency with losing millions in a fraud and leading a company responsible for 130,000 jobs.
   While dealing with the fallout of an affair and divorce, Molinaroli has also led a massive restructuring.
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