Former Cutter & Buck executive pleads guilty to concealing wire fraud

Ediacara

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Thu Aug-07-03 05:06 PM
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Former Cutter & Buck executive pleads guilty to concealing wire fraud

Former Cutter & Buck executive pleads guilty to concealing wire fraud

By Jake Batsell
Seattle Times business reporter

The former chief financial officer of Seattle sportswear company Cutter & Buck pleaded guilty this morning to a felony charge of concealing wire fraud, saying he helped cover up inflated sales figures in 2000.
Steve Lowber, 52, admitted his guilt to a U.S. magistrate in Seattle. As part of a plea deal with federal prosecutors, Lowber agreed to cooperate with an ongoing U.S. Attorney's Office investigation in exchange for pleading guilty to a single count of acting as an "accessory after the fact."

The count carries a maximum sentence of more than two years in prison, a fine of up to $125,000, and restitution, although prosecutors may recommend a lighter sentence as part of the deal.

More at the Seattle Times

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BushWhacker

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Thu Aug-07-03 05:08 PM
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1. Now that depends...

on how you define "wire" LOL j/k

Anyways - it's fun seeing the big business guys get it in the rump, isn't it?

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