News and Press Releases

FORMER SNACK FOOD COMPANY EXECUTIVE
PLEADS GUILTY TO BANK FRAUD

FOR IMMEDIATE RELEASE
November 23, 2011

Memphis, Tenn - Edward L. Stanton III, United States Attorney for the Western District of Tennessee,
and Rick Harlow, Special Agent in Charge of the Memphis Field Office of the United States Secret
Service announced today that, Charles David Nichols, age 48 of Memphis, Tennessee, entered a guilty plea to bank fraud in connection with the theft of approximately $425,000 while he was employed at Brimhall Foods Co., Inc., known locally as Brim’s Snack Foods.

According to the criminal information filed in U.S. District Court, and the statement of facts made by
Assistant United States Attorney, Carroll L. Andre III, to U.S. District Judge Samuel Hardy Mays, Jr.,
Nichols was employed as the Vice President of Finance at Brim’s Snack Foods and had authority to issue
and co-sign checks drawn against Brim’s checking account at First Tennessee Bank. Between May, 2003,
and June 2011, Nichols engaged in a fraudulent scheme to divert approximately $425,000 by forging the
required signatures of other Brim’s executives on approximately 144 checks which Nichols either cashed
or deposited to personal accounts he maintained at First Tennessee and Wachovia Banks.

The charge to which Nichols pleaded guilty carries a maximum penalty of up to 30 years imprisonment
and a fine of $1,000,000. A sentencing hearing is currently scheduled for February 23, 2012, at 9:00 a.m.

The case was investigated by the United States Secret Service Memphis Field Office. The case is being
prosecuted by Assistant United States Attorney Carroll L. Andre III, on behalf of the government.

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