Saturday, March 14, 2009

Peter Puck you're ......! Should never have traded Gretzky!

$1Million (U.S.) Bail Posted For Pocklington
Globe and Mail
March 13, 2009

New York Rangers general manager Glen Sather came to the rescue Friday of Peter Pocklington, agreeing to post $1-million (U.S.) in bail, clearing the way for the release from jail of the former owner of the Edmonton Oilers.

The offer by Mr. Sather, who served as Edmonton manager while Mr. Pocklington was the hockey team's owner, came during a U.S. District Court hearing in Riverside, Califfornia.

Mr. Pocklington was arrested and charged with bankruptcy fraud Wednesday, and faces up to 10 years in a federal prison.

Mr. Sather has pledged a property in Minnesota, which will be confirmed with an appraisal and other details for a surety bond by mid-April.

Mr. Pocklington, 67, will likely have to wear an electronic ankle bracelet. He had been arrested at home his in Palm Desert, California by FBI agents and jailed at a federal detention facility in San Bernardino county.

Thom Mrozek, a spokesman for the U.S. Attorney's Office, said Mr. Pocklington “will be subject to home detention with electronic monitoring.”

Deputy federal public defender Kay Otani represented Mr. Pocklington in court Friday in the criminal case.

Michael Lusby, who represents the Canadian entrepreneur's personal bankruptcy case in civil court, said in an interview yesterday that he was pleased to hear that Mr. Sather hadn't abandoned a former colleague.

But Donald Courtney, a California entrepreneur who has clashed with Mr. Pocklington, said he is looking forward to the trial for bankruptcy fraud.


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