Rudy Buendia, Patrick Bowman, and Joseph Cuellar all held high ranking executive positions with "Firm Build". The nonprofit agency went bankrupt in 2007.
The men could spend nearly two years in prison for violating federal cleanup laws.
Investigators say the former executives knew students were being exposed to asbestos while working on an automotive training center, but the teens did not.
The students were given only goggles, hard hats, and cotton masks.
Asbestos is a known cancer causing substance. The men are scheduled to be sentenced in June.