PALM DESERT, Calif. – Former Edmonton Oilers owner Peter Pocklington was arrested at his home Wednesday for allegedly concealing assets during bankruptcy proceedings.
The 67-year-old Pocklington is accused in an indictment of making false statements in bankruptcy and making false oaths and accounts in bankruptcy. If convicted, he could face up to 10 years in federal prison.
He was expected to appear in court later in the day. It could not be determined if he had a lawyer. Hockey great Wayne Gretzky played on Oilers teams owned by Pocklington. The franchise won five titles in seven years before Pocklington sold it in 1998. Pocklington filed for personal bankruptcy last year.
He is suspected of failing to disclose to a bankruptcy court two bank accounts as well as the contents of two storage units. He claimed to have debts of nearly $20 million and assets of only about $2,900. It wasn’t immediately disclosed how much money was in the bank accounts.
To partially satisfy a court judgment, Pocklington gave a creditor a piece of art, a rug and desk that were collectively worth about $80,000 and located in one of his storage units, court documents said.
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