Bloomberg News Names Littlefield Native In Embezzlement Case - KCBD NewsChannel 11 Lubbock

11/15/05

Bloomberg News Names Littlefield Native In Embezzlement Case

Bloomberg news service is reporting that Patterson-UTI, the second largest operator of land based oil and gas drilling rigs in North America, has said former Chief Financial Officer Jonathan D. Nelson is the executive suspected of embezzling about $70 million over five years.

Bloomberg reports that Nelson may be responsible for unauthorized payments made by the company for assets it never received. Patterson UTI is based out of Snyder. NewsChannel 11 has learned that 36-year-old Jonathan Neslon is a Littlefield native and studied accounting at Texas Tech. Nelson reportedly owns a portion of Town and Country Airport, owns land in Lamb County, and is an investor in multiple businesses.

Nelson and his wife are listed as the owners of a house in the Rush Subdivision. The house is under construction and is valued at $2.4 million.

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