X-Message-Number: 26975
Date: Thu, 8 Sep 2005 11:04:44 -0500
From: Jonathan Despres <>
Subject: Alcor filed a lawsuit in August 2003 against Larry Johnson

Ex-Alcor employee held in theft case 
Accused of taking nearly $177,000

Peter Corbett
The Arizona Republic
Sept. 8, 2005 12:00 AM 

SCOTTSDALE - After a three-month investigation, Scottsdale police have
arrested a former Alcor bookkeeper on charges that he stole nearly
$177,000 from the Scottsdale cryonics company.

Timothy Reeves, 35, of Tempe, told investigators upon his arrest last
month that he stole the money to buy a 49 percent interest in a
Chandler sports bar, Coach's Corner, 6403 W. Chandler Blvd.,
Scottsdale police said.

The bar's phone number was disconnected, and Reeves could not be
reached for comment. advertisement
 
 


The Alcor Life Extension Foundation, whose most famous "patient" is
baseball great Ted Williams, discovered discrepancies involving checks
written by Reeves during a June audit.

Upon investigation, the company discovered that Reeves had withdrawn
$150,000 from a member's investment account, police said.

Alcor members deposit funds that are used upon their death to freeze
their bodies and store them in liquid nitrogen at minus 320 degrees at
Alcor's Scottsdale Airpark warehouse.

Members make the ultimate investment in their future with the hope
that medical advances will allow them to be reanimated or brought back
to life.

Alcor has 69 patients frozen, with either their head or entire body
stored for future reanimation.

Reeves, who started at Alcor in May 2004, as a temporary bookkeeper
and quit this past May, was arrested on one count each of fraud and
theft, and four counts of forgery.

The case has been forwarded to the Arizona Attorney General's Office,
which is reviewing it for prosecution, said Steve Wilson, a spokesman
for the Attorney General's Office.


Another controversy 
Reeves is the second former Alcor official to be embroiled in
controversy in the past two years.

Alcor filed a lawsuit in August 2003 against Larry Johnson, its former
chief operating officer, alleging he stole company property, violated
a confidentiality agreement and breached his financial duty.

That suit was filed after Johnson alleged in published reports that
Alcor had mishandled Ted Williams' body and his severed head, causing
at least 10 cracks.

Johnson filed a counterclaim alleging Alcor had defamed him in the
allegations company officials made against him.

Alcor spokeswoman Cheryl Walsh said both suits have been dismissed.


Walsh said the loss of funds would not affect the company's financial stability.

The cryonics company has also gone through two chief executives in the
past 20 months.


President resigned 
Joe Waynick resigned as Alcor president and CEO on Aug. 28 but will
remain on its board.

Waynick discovered the forged checks. His departure is unrelated to
Reeves' arrest, Walsh said.

Waynick joined Alcor in January 2004, replacing Dr. Jerry Lemler, who
left the company after three years for health reasons.

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