Idman.biz
Former Atlanta Hawks executive Lester Conn has been arrested and charged with embezzling $3.8 million from the team through fraudulent means.
Idman.Biz reports this with reference to The Athletic.
According to reports, Lester Conn pleaded not guilty and was released on bail. Conn, who served as Senior Vice President of Financial Planning and Analysis, is no longer with Atlanta. The crime was discovered during an audit.
Prosecutors say Conn controlled the team's American Express account and could approve payments while performing duties for the team. He is also alleged to have used several corporate cards for personal purposes.
It is alleged that Conn, using funds stolen from the team, lived a lavish lifestyle, including trips to the Bahamas, Hawaii, Thailand, Switzerland, and other countries. He is also said to have bought a Porsche and other luxury items.
Conn reportedly had a romantic relationship with another team employee and used some of the money to buy her expensive gifts. This woman is also no longer working at Atlanta, although it is unknown whether she was aware of the alleged embezzlement.
It is alleged that Conn altered financial statements, forged emails, and transferred personal expenses to Atlanta's operating accounts to hide his personal use of the team's card. The club has not yet commented on the situation.
