Renegade Tobacco owner Calvin Phelps may serve up to 43 years

(Winston-Salem Journal) Calvin Phelps, owner of four bankrupt Mocksville tobacco companies, pled guilty Thursday to federal charges of committing fraud, making false statements and unlawful financial transactions.
According to Phelps' plea agreement, he faces up to 43 years in prison and a requirement to forfeit up to $2 million of his money.
The plea was made in the U.S. District Court for the Northern District of Mississippi, where Phelps has been the subject of a criminal investigation for nearly four years.
Companies involved in the scheme were Alternative Brands Inc., Renegade Holdings Inc., Renegade Tobacco Co., and Cutting Edge Enterprises Inc. Continued