Former Nike Exec Booked On Fraud Charges

 

According to OregonLive.com

“A fired Nike exec has been indicted on federal charges, accused of defrauding his former employer by using its software to grant two outside companies he operated much higher discounts than the sportswear giant allowed for even its best wholesale customers.

David Reichert worked for Nike for nearly 15 years as a sale account executive in its apparel division. He was fired in July 2014, according to court documents.

The division where Reichert had worked booked purchase orders from wholesale customers on a computer system that ran on software located in California.

While employed at Nike, Reichert operated two outside athletic apparel companies, both based in St. Louis, Missouri.

Reichert is accused of hiding his ownership roles in the two other companies by forging the signature of his business partner on checks paid to Nike for merchandise his companies bought, the indictment alleges.”

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