Tuesday, April 23, 2013

Former Wrestling Promoter In Oregon Is Sentenced For Embezzling $516K From Local Manufacturer

From The Oregonian on 4/22/2013:

Ex-wrestling promoter gets 8 years in $500,000 embezzlement
By Rick Bella, The Oregonian

A former Portland wrestling promoter has been sentenced to eight years in prison for stealing more than $500,000 from a Clackamas company where he worked.

Frank Lloyd Culbertson Jr., 54, of Southeast Portland pleaded guilty last week to six counts of aggravated theft, stemming from his time working in the accounting department of Cornell Pump Co. Additional charges of theft, computer crimes and identity theft were dropped in a plea agreement struck by Clackamas County Deputy District Attorney Michael Y. Wu and defense attorney Arthur B. Knauss.

Circuit Judge Robert D. Herndon also ordered Culbertson to repay the company when all of Culbertson's thefts are tallied.

Meanwhile, Cornell Pump sued Culbertson in November, seeking $515,918 in damages related to Culbertson's thefts. The case remains pending.

Culbertson, a former television advertising salesman, bought the dormant Portland Wrestling franchise in 2002. His effort to revive the once-popular local wrestling matches ended in 2007, when he was arrested and prosecuted for embezzlement.

Culbertson subsequently was convicted in Multnomah County Circuit Court of first-degree aggravated theft for embezzling Broadway Cab, where he worked in the company's accounting unit. He was sentenced to 30 days in jail, five years' probation and was required to repay the cab company $48,000 in restitution.

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