Former Nike Executive is Sentenced to 13 Months Jail
Former Nike executive David Reichert will spend the next 13 months in prison after pleading guilty to a frauding the Orgeon business of over $750,000.
This all began last Summer, when Nike lslapped federal charges against the ex-exec for his role in a wire fraud scheme.
It’s claimed that Reichert leveraged his position at Nike to apply huge discounts to order from companies he secretly owned. The former sales executive was accused of granting his businesses “discounts [that] were typically five to ten times greater than Nike allowed for even its best wholesale customers,” according to the Swoosh’s 2017 filing.
Reichert pled guilty to two counts of wire fraud in May of this year, and just now, according to Fox 12, he’s been sentenced to 13 months in prison.
The fraud was originally reported to be around the $550,000 mark, but the attorney’s offices are now suggesting that the figure is closer to $770,000.