Fallon
11-08-2002, 06:55 PM
<li>WWE Ex-Manager Charged with Embezzling $437,000
NEW YORK (Reuters) - The former general manager of an entertainment complex owned by World Wrestling Entertainment was arrested on Friday on charges of grand larceny after allegedly embezzling $437,000, according to the Manhattan District Attorney's office.
Kenton Jenkins, 39, allegedly wrote checks to a nonexistent construction company, and created phony paperwork describing work that was never undertaken.
The Manhattan district attorney's office said the alleged embezzlement took place between September, 2001 and July, 2002, when the WWF complex "The World," located in New York City's Times Square, was under renovation.
Jenkins, charged with three counts of grand larceny in the 2nd degree and one count of grand larceny in the 3rd degree, faces up to 15 years in prison for the top charge.
He will be arraigned late on Friday or on Saturday.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021108/bs_nm/media_wwe_dc_6
<li>WWE Finds 'Suspicious' Transactions
STAMFORD, Conn. (Reuters) - Wrestling promoter World Wrestling Entertainment Inc. on Friday said it uncovered "suspicious" transactions related to its theme restaurant and retail operation in New York's Times Square, and that a former manager there has been arrested.
The Stamford, Connecticut-based company, a popular television and live entertainment entity that is home to pro-wrestling stars such as "The Undertaker," said that, in September, it identified several "suspicious financial transactions" in connection with "The World," its complex in Times Square.
WWE said it then hired KPMG Forensic, an elite crew of accounting detectives at KPMG LLP, which conducted a preliminary review of the transactions. Their findings were eventually turned over to New York City law enforcement.
As a result, Kenton Jenkins, a former general manager of The World, was arrested on Friday in New York, the company said.
WWE representatives declined to comment on the nature of Jenkins' arrest, but said Jenkins was hired in May 2000, when WWE purchased "The World" as part of its attempt to diversify its business.
The company said it does not believe that these matters will have a material effect on its operations.
The Times Square complex features a night club, restaurant and gift shop in addition to a television soundstage, and has also served as a raucous late-night after-party venue for celebrities.
Revenues at "The World" fell 32 percent from a year ago, to $2.3 million, in the company's first quarter ended in July, due to the fall-off in tourism in Times Square, the company said.
Shares of WWE closed off 5 cents at $8.31 on Friday.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021108/bs_nm/media_wwe_dc_5
<li>Statement Concerning Arrest of Kenton Jenkins, Former General Manager of The World
STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 8, 2002--World Wrestling Entertainment, Inc. (NYSE:WWE - News) 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 Worldr, 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 materi
NEW YORK (Reuters) - The former general manager of an entertainment complex owned by World Wrestling Entertainment was arrested on Friday on charges of grand larceny after allegedly embezzling $437,000, according to the Manhattan District Attorney's office.
Kenton Jenkins, 39, allegedly wrote checks to a nonexistent construction company, and created phony paperwork describing work that was never undertaken.
The Manhattan district attorney's office said the alleged embezzlement took place between September, 2001 and July, 2002, when the WWF complex "The World," located in New York City's Times Square, was under renovation.
Jenkins, charged with three counts of grand larceny in the 2nd degree and one count of grand larceny in the 3rd degree, faces up to 15 years in prison for the top charge.
He will be arraigned late on Friday or on Saturday.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021108/bs_nm/media_wwe_dc_6
<li>WWE Finds 'Suspicious' Transactions
STAMFORD, Conn. (Reuters) - Wrestling promoter World Wrestling Entertainment Inc. on Friday said it uncovered "suspicious" transactions related to its theme restaurant and retail operation in New York's Times Square, and that a former manager there has been arrested.
The Stamford, Connecticut-based company, a popular television and live entertainment entity that is home to pro-wrestling stars such as "The Undertaker," said that, in September, it identified several "suspicious financial transactions" in connection with "The World," its complex in Times Square.
WWE said it then hired KPMG Forensic, an elite crew of accounting detectives at KPMG LLP, which conducted a preliminary review of the transactions. Their findings were eventually turned over to New York City law enforcement.
As a result, Kenton Jenkins, a former general manager of The World, was arrested on Friday in New York, the company said.
WWE representatives declined to comment on the nature of Jenkins' arrest, but said Jenkins was hired in May 2000, when WWE purchased "The World" as part of its attempt to diversify its business.
The company said it does not believe that these matters will have a material effect on its operations.
The Times Square complex features a night club, restaurant and gift shop in addition to a television soundstage, and has also served as a raucous late-night after-party venue for celebrities.
Revenues at "The World" fell 32 percent from a year ago, to $2.3 million, in the company's first quarter ended in July, due to the fall-off in tourism in Times Square, the company said.
Shares of WWE closed off 5 cents at $8.31 on Friday.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021108/bs_nm/media_wwe_dc_5
<li>Statement Concerning Arrest of Kenton Jenkins, Former General Manager of The World
STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 8, 2002--World Wrestling Entertainment, Inc. (NYSE:WWE - News) 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 Worldr, 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 materi