magilicuti Posted November 11 Report Share Posted November 11 WWE: Finds 'Suspicious' TransactionsSTAMFORD (Reuters) - World Wrestling Entertainment Inc. (NYSE:WWE - News), home to pro-wrestling stars such as "The Undertaker," said it has uncovered "suspicious" fiscal transaction related to an affiliated New York complex.The Stamford, Connecticut-company said that, in September, it identified several "suspicious financial transactions" in connection with the operations of The World, its entertainment complex in Times Square in Manhattan.Kenton Jenkins, former General Manager of The World, on Friday was arrested in New York, in conjunction with an investigation by local law enforcement, the company said. A WWE news release did not identify the charges against Jenkins.The company said it does not believe that these matters will have a material effect on its operations. Source: Yahoo! Finance. Quote Link to comment Share on other sites More sharing options...
magilicuti Posted November 11 Author Report Share Posted November 11 - WWE.com released the following on 11/8:Statement Concerning Arrest of Kenton Jenkins, Former General Manager of The WorldÒSTAMFORD, Conn., November 8, 2002 - World Wrestling Entertainment, Inc. (NYSE: WWE) today issued the following statement:As part of its customary business operations reviews, on September 23, 2002, World Wrestling Entertainment, Inc., identified a series of suspicious financial transactions in connection with the operations of The WorldÒ , the company’s entertainment complex in Times Square, New York City.WWE engaged KPMG Forensic, a premier provider of investigative and forensic accounting services, which conducted a preliminary review of the suspicious transactions.On September 25, 2002, WWE executives and the team from KPMG first met with the Manhattan District Attorney’s office and turned over the findings of their investigation.WWE is appreciative of the efforts of the office of District Attorney Robert Morgenthau for its diligent investigation, which today resulted in the arrest of Kenton Jenkins, former General Manager of The World.WWE and the investigators at KPMG are continuing to cooperate with the District Attorney’s office regarding the current case. The company does not believe that these matters will have a material effect on its operations.===Manhattan District Attorney Robert M. Morgenthau announced today the arrest of KENTON JENKINS for embezzling $437,000 from World Wrestling Entertainment, Inc., ("WWE"). JENKINS was the former General Manager of WWE's theme restaurant, "The World", in Times Square, which was formerly the Paramount Theater. From September, 2001 to July, 2002, during a period of construction and renovation on "The World", JENKINS wrote checks totaling $437,000 to a non-existent construction company ("CSG Construction") and created paperwork describing work that was never undertaken. The defendant, who is 39 years old and lives in Demarest, New Jersey, has been charged with 3 counts of Grand Larceny in the Second Degree and 1 count of Grand Larceny in the Third Degree. Grand Larceny in the Second Degree is a class C felony that is punishable by up to 15 years in prison; Grand Larceny in the Third Degree is a class D felony that is punishable by up to 7 years in prison. Mr. Morgenthau thanked WWE and its auditors, KPMG, and the New Jersey Department of Criminal Justice for their assistance in the investigation. Assistant District Attorney Paul Mahoney of the Frauds Bureau will handle the prosecution. Assistant District Attorney Owen Heimer is chief of the Frauds Bureau. Quote Link to comment Share on other sites More sharing options...
BKDJ Posted November 11 Report Share Posted November 11 they had to make money somehow! hehe... losers... Quote Link to comment Share on other sites More sharing options...
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