Patterson Speaks About Nelson Embezzlement - KCBD NewsChannel 11 Lubbock

7/14/2006

Patterson Speaks About Nelson Embezzlement

For the first time, Patterson UTI is speaking publicly about what the company will do now that the embezzlement case is behind them.

The company's former chief financial officer Jonathan Nelson stole $77 million from Patterson UTI.

"We're not proud of the fact that it happened, but we're probably a better, stronger company because of the fact that we had the embezzlement. We've gotten the forms filed with the SEC and we're going forward, it should be over fairly soon," said Cloyce Talbott, with Patterson UTI.

And he's right, all that's left in the criminal case is the sentencing phase. However, there is still at least one other auction that is still undecided.

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List of Property in Nelson Auction
Take a detailed look at the property up for sale in the Nelson Auction.

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