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A former bike shop manager has pleaded guilty

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Guest Big H

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From RBR


A former bike shop manager has pleaded guilty to stealing $375,000 worth of bikes and gear and selling most of it on eBay. The crook is William Reese Houghton, 34, who did the deed in Colorado Springs while working for Colorado Cyclist and a shop called Pro Cycling. He's expected to be sentenced to 90 days in jail, 12 years of supervised probation and 250 hours of community service. He also must pay $200,000 in restitution to Pro Cycling and $50,000 to Colorado Cyclist, the mailorder company. It's reported by Bicycle Retailer and Industry News that Reese made $147,605 selling the stolen goods on eBay at prices often far below retail. For example, eight Jamis Nova Cross frames with an SRP of $1,050 each were sold for $5 to $280.<?:NAMESPACE PREFIX = O />

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