The board voted Monday to settle with the Securities and Exchange Commission. The settlement also includes the arena's builder, Rick Kozuback and Global Entertainment, plus Allison Williams of the Greater Wenatchee Regional Events Center Public Facilities District.
The Wenatchee World reported that as part of the settlement, Kozuback and Global will each pay $10,000.
The federal investigation concluded that Kozuback, Global and the Public Facilities District knowingly gave false and misleading information to potential investors before the sale of nearly $42 million in bonds to pay for the arena's construction. The arena went into default in 2011.
More Northwest Headlines
Oregon college shooting victim describes gunman’s rampage Washington authorities search for missing Kentucky man Wyoming and Montana to promote coal ports in Washington Wolf thought to be dead found in southern Oregon Repairs have Cape Disappointment jetty ready for winter Initiative seeks state penalties for wildlife trafficking Camas police car hit by suspected drunken driver Oregon coach arrested for sending suggestive texts to boy, 13
Our new comment system is not supported in IE 7. Please upgrade your browser here.