Ailing Stock Car Racing Mogul Pleads Guilty To Fraud Charges

Rick Hendrick, who has had enormous success as an auto dealer and stock car team owner, pleaded guilty Thursday to mail fraud in a plea agreement that should keep him out of jail in connection with a business bribery case.

The mail fraud charge was one of 15 counts against Hendrick in a 1996 federal grand jury indictment. It involved a conspiracy to commit fraud, launder money and pay bribes totaling $160,000 to executives of American Honda to build his car dealership empire, one of the nation’s largest.

Hendrick Motorsports has three Winston Cup teams, including those of defending series champion Terry Labonte and Jeff Gordon, who is leading this year’s point standings and has won eight races.

Hendrick had maintained his innocence since his indictment last December. Looking weak from cancer-fighting treatment, he did not respond to questions about his change of heart as he left the courtroom.

Hendrick is free on $25,000 unsecured bond pending sentencing, which is expected within the next 30 to 60 days.