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Old 02-18-2009, 01:43 PM   #1
onewickedlady
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http://www.insidehoops.com/blog/?p=3468

Bobcats minority owners convicted of fraud
February 16, 2009 · Filed Under Charlotte Bobcats, News
The Charlotte Observer (Rick Bonnell) reports: A part-owner of the Charlotte Bobcats has been convicted of felony fraud in South Florida and sentenced to nine years in prison. Brothers Jorge and Carlos de Cespedes were given the maximum sentence, after an investigation of their pharmaceuticals company bilking Kendall Regional Medical Center. According to the Miami Herald, the hospital lost $5 million over 14 years because of this scheme… A source with knowledge of the Bobcats’ structure said the de Cespedes brothers originally paid $10 million to $12 million to purchase roughly 3 percent of the team. That percentage likely dissipated over time unless they participated in cash calls to cover revenue deficits.
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Old 02-18-2009, 02:00 PM   #2
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I bet Jordan buys that 3%.
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Old 02-18-2009, 04:42 PM   #3
catsandheels
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Quote:
Originally Posted by rufuspaul
I bet Jordan buys that 3%.
yea your right he probly will he said if they try to sell the bobcats he would buy them so he probly will
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Old 02-18-2009, 10:22 PM   #4
Timmeh
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Default Re: Oh this is good........Not.

At least it was a small percentage, not like a majority. Though I wish something like that would happen to Bob Johnson...you know...something like he was convicted of fraud and there was a lot more money into the franchise than previously thought and we have more cap room.

I can dream can't I?
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