PORTLAND, Ore. (AP) — A fired Nike wholesale account executive has been sentenced to more than a year in federal prison for defrauding his former employer out of more than $750,000.

The Oregonian/OregonLive reports 51-year-old David Reichert was sentenced Tuesday after pleading guilty in April to two counts of wire fraud.

Reichert, who worked for the Oregon-based sportswear company for more than 15 years, gave significant discounts to two Missouri-based retail companies he operated with a friend. He never disclosed his ownership interests in the two companies.

Prosecutors say the discounts on Nike merchandise averaged more than 57 percent off the wholesale prices — nearly three times the discounts he gave to other Nike customers.

Reichert apologized in court to the company and his family, saying he was "embarrassed and ashamed."


Information from: The Oregonian/OregonLive, http://www.oregonlive.com

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

React to this story:


(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.