BRIDGEPORT, Conn. -- The former licensing agent for World Wrestling Entertainment was indicted Tuesday on federal charges of paying about $1 million in kickbacks to a WWE executive for the right to license the company's merchandise.
Stanley Shenker, 61, of New Canaan, was charged with one count of conspiracy and three counts of interstate transportation of money obtained by fraud. He is accused giving kickbacks to James Bell, the former WWE senior vice president of licensing and merchandising.
Bell, 50, of Norwalk, was convicted last year after pleading guilty to mail fraud. He is awaiting sentencing.
Prosecutors said Bell arranged for WWE's licensing agent, SS & Associates Inc., owned by Shenker, to receive commissions on licensing agreements to which SS & Associates was not entitled. Bell would then get kickbacks from Shenker's company under the scheme, which took place between 1998 and 2000, authorities said.
Prosecutors said in the indictment that the kickbacks dwarfed Bell's annual salary and were "only a fraction" of the commission the Stamford-based WWE paid Shenker.
The WWE terminated Shenker's contract in June 2000.
If convicted, Shenker faces more than 10 years in prison and $7 million in fines.
BUSINESSMAN INDICTED IN WWE KICKBACK SCHEME
- 06/07/2006 (12:34:43 am)
- Media
Could face up to 10 years in prison and $7 million in fines….
Businessman indicted in WWE kickback scheme
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Published June 6 2006
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