May 3, 2012
Author: MIke P.
A former marketing executive for Adidas was sentenced in court yesterday for a fraud scheme that embezzled over $330,000 from the company. Britney Obster was sentence to one year and one day in prison and ordered to pay full restitution to Adidas while serving three years supervised release after her term is up.
Obstar pleaded guilty in November 2011 to one count of mail fraud. She admitted that beginning in 2009 and continuing through February 2010, while employed as a senior marketing manager at Adidas, she submitted invoices to Adidas requesting that Adidas pay Norcal Media Development (NCMD) for marketing services NCMD never performed for Adidas. NCMD was a California company formed by Obstar's brother-in-law and his girlfriend around the same time NCMD submitted its first invoice to Adidas.
Obster and her husband used the money to pay off car loans and debt. Nice try you crook, now you can rot in jail and the three stripes are safe yet again.
This news comes in on the heels of Adidas reporting a 14% gain in their first quarter or 2012. Revenue grew to 3.82 Billion in the first quarter compared to 3.27 billion in the first quarter of 2011.