Snyder Company Investigates $70 Million Embezzlement - KCBD NewsChannel 11 Lubbock

11/11/05

Snyder Company Investigates $70 Million Embezzlement

A Snyder Company is investigating how $70 million was embezzled.

On Thursday, Patterson UTI announced an internal investigation into unauthorized payments for assets that were not delivered. A company audit revealed that a former high ranking employee may have embezzled $70 million over a five year period. Just last month, the company, which drills oil and gas wells world-wide, announced record profits for the third quarter.

Courts & Crime
Take a look at the Courts & Crime news from around Lubbock.

Powered by WorldNow

5600 Avenue A
Lubbock, TX. 79404

FCC Public File
publicfile@kcbd.com
806-744-1414
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KCBD. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.