Exec charged with taking kickbacks
By Furniture Today Staff -- Furniture Today, November 30, 2009
HICKORY, N.C. — A longtime former employee of a freight company that serves the furniture industry has been indicted on charges of taking kickbacks from suppliers, the Hickory Record reported.
A Catawba County, N.C., grand jury indicted Patrick Smith on two felony charges of obtaining property by false pretense.
Police said Smith took more than $22,000 from companies that did business with Cargo Consolidation Services, where he was employed for 20 years.
He left that company in August to become a vice president at Worldwide Logistics, a specialized furniture carrier. But in an e-mail to Furniture/Today, Worldwide officials said Smith “has chosen to resign his position at Worldwide Logistics, effective Nov. 14.”
According to the Hickory newspaper, Smith's attorney, Jason White, said Smith received the payments on a commission-type arrangement and will plead not guilty.
But Cargo Consolidation's chairman said Smith's compensation package was a fixed salary with a year-end bonus.
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