Pocklington may avoid prison on U.S. fraud charge

Peter Pocklington, the former owner of the Edmonton Oilers hockey team, has signed a plea agreement with U.S. authorities that may allow him to avoid a prison sentence for bankruptcy fraud.

In the 18-page document obtained by CBC News, Pocklington, 68, admits he committed perjury when he filed for bankruptcy in August 2008, claiming almost $19.6 million in debts and $2,900 in assets.

At the time, Pocklington claimed he did not hold any property owned by another person; he now admits he had control over two bank accounts and two storage units.

Under the plea agreement with the U.S. Attorney's Office in California and filed with the U.S. District court last week, Pocklington must:

• Plead guilty to one count of perjury.
• Co-operate with the U.S. Internal Revenue Service to determine and pay back taxes for 2006 to 2008.
• Turn over all assets as ordered by a bankruptcy court.
• Give up the right to appeal any sentence imposed by the court, including restitution.

Pocklington, who was slated to go on trial on June 29, was facing a possible 10-year prison sentence; a guilty plea brings the maximum penalty down to five years.

If Pocklington holds up his end of the bargain, the U.S. Attorney's Office will recommend six months of house arrest followed by probation.

The plea agreement will formally go before a judge, who must decide whether or not to accept the recommendation, in the next couple of weeks, said the U.S. Attorney's Office.

Could be returned to Canada

A felony conviction would mean Pocklington, who lives with his wife in Palm Desert, Calif., could be deported back to Canada.

FBI agents arrested Pocklington, who was born in London, Ont., in March 2009. Glen Sather, a former Oilers' president and general manager, put up a bond of $1 million US for his friend's release.

According to court documents, the Alberta government is still pursuing Pocklington for $13 million for a provincial loan given to his meat-packing company, Gainers, in 1988.

Pocklington, who owned the Oilers when the team won its five Stanley Cups, is still remembered by many fans in Edmonton as the man who traded Wayne Gretzky to the L.A. Kings in 1988.