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Who is Lester Jones? Former Hawks executive charged for $3.8M embezzlement fraud
Who is Lester Jones? Former Atlanta Hawks executive charged for $3.8M embezzlement scheme
Lester Jones, a former senior vice president of financial planning and analysis for the Atlanta Hawks, faces serious federal charges. Prosecutors say he stole $3.8 million from the NBA team to to fund a lavish lifestyle like payment for luxury cars, trips, and gifts. This case shows how trusted employees can misuse company money.
Background on Lester Jones and his role
Lester Jones served as a long-time executive in the Atlanta Hawks' finance department. He held significant control over the team's American Express account. In this position, he issued multiple corporate credit cards to himself. His responsibilities included managing budgets and approving expenses, giving him easy access to team funds.The US Attorney's Office for the Northern District of Georgia indicted Jones last week on wire fraud charges. An internal audit by the Hawks uncovered evidence of his alleged crimes, as reported by The Athletic.
Details of the alleged embezzlement
Prosecutors claim Lester Jones embezzled $3.8 million through fraudulent purchases. He used the team's business credit cards for personal luxuries. These included trips to the Bahamas, Thailand, Switzerland, and other destinations. He also bought cars, concert tickets, and gifts.One standout purchase was a Porsche paid for with Atlanta Hawks' funds. Jones allegedly altered documents and bills to disguise these as legitimate business expenses. He then submitted them to the accounting department for approval.
Another example of deception
According to The Athletic, Lester Jones submitted a $229,968.76 bill, claiming it covered the team's stay at the Wynn in Las Vegas during the NBA Cup semifinals. Federal prosecutors say this was personal spending. Jones altered an email from American Express to make the charges appear hotel-related. This manipulation allowed the payment to go through without raising immediate flags.Current status and team response
Lester Jones is no longer employed by the Atlanta Hawks. The team cooperated with the audit that exposed the scheme. This case serves as a reminder for organizations to strengthen oversight on credit card usage and expense approvals. As the legal process unfolds, more details may emerge about prevention measures in NBA teams.Source: LiveMint
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