Former Nike employee David Reichert will spend the next 13 months in prison after pleading guilty to a fraud operation which is said to have cost the brand nearly three-quarters of a million dollars.
Reichert's case began in the summer of 2017 when Nike brought forth federal charges against the ex-exec stemming from his role in a wire fraud scheme.
The charges claimed Reichert used his job at Nike to apply discounts to order from companies he secretly owned. The former sales executive was accused of granting his businesses "discounts [that] were typically five to ten times greater than Nike allowed for even its best wholesale customers," according to the Swoosh's 2017 filing.
In May, Reichert pled guilty to two counts of wire fraud, and now Fox 12 reports that he's been sentenced to 13 months in prison.
The total cost of Reichert's scheme was originally reported to be around $550,000, but the outlet reports that the attorney's offices now places the figure closer to the neighborhood of $770,000.
We've reached out to Nike for comment and will update once a statement is available.
