ProTour officer accused of stealing tour money
By Curtis Lum
Advertiser Staff Writer
Update: In 2006, Pro Tour Hawaii's former chief financial officer Gregg V. Wood was convicted of defrauding the business and its owners Sandy and Tina Mohr. Wood was sentenced to federal prison but his conviction was overturned on appeal in 2007
For subsequent coverage of this case, see:
http://archives.starbulletin.com/2005/03/06/news/index4.html
http://archives.starbulletin.com/2006/06/01/news/story13.html
http://archives.starbulletin.com/2006/10/26/news/story06.html
http://the.honoluluadvertiser.com/article/2008/Jan/16/ln/hawaii801160399.html
The former chief financial officer of the defunct ProTour Hawai'i golf tournament stole more than $55,300 in tournament fees and used some of that money to buy an expensive car, according to a document filed in U.S. District Court yesterday.
The U.S. Attorney's office yesterday filed a complaint in federal court seeking the forfeiture of a 1991 Jaguar XJS convertible that was purchased by Gregg Wood. Wood is identified in the complaint as the CFO of ProTour Hawai'i.
According to the document, Wood used money that was supposed to go toward prize money in a series of golf tournaments to purchase the $14,600 car. Under federal law, any property purchased by ill-gotten money can be subject to forfeiture.
Wood could not be reached for comment yesterday.
ProTour Hawai'i was billed as a series of 10 professional golf tournaments to be played on O'ahu, Maui, Kaua'i and the Big Island between Jan. 16 and March 2001. Participants were asked to pay a $11,500 fee, with the money placed in an escrow trust account that would be used for the tournament's purse.
More than 60 golfers entered the tournament and the first event was held on Maui in February. The top golfers received their winnings, including the $18,000 first prize.
By the second event, however, checks written to the players began to bounce, the complaint stated. After the third event, the complaint said, none of the players received checks.
In February, the FBI began an investigation into the collapse of the tournament after its president filed a complaint on Maui regarding the disappearance of money. The investigation led to Wood, who claimed to be the head of Paradise Resort Development Corp., a Florida-based company that guaranteed the tournament's $1.1 million purse, the complaint stated.
The complaint said Wood's personal bank account grew from $919 on Dec. 19, 2000 to $91,606 on Feb. 12, 2001. Bank records also reveal withdrawals and checks written off the account totalling $87,835, the complaint said.
