German businessman Thomas Middelhoff, former CEO of media powerhouse Bertelsmann, was convicted of embezzlement and tax evasion in Germany Friday, according to a Reuters report.
The judge expressed concern that Middelhoff might flee and ordered that police transport the executive to jail immediately to begin a three-year sentence.
Middelhoff, who also ran retailer Arcandor, became a symbol of excessive executive spending in Germany. The media mogul traveled by private jet more than 600 times during his tenure at Arcandor and charged his employer for two-thirds of those flights. He also billed his employer tens of thousands of Euros for private helicopter flights unrelated to business. His sentencing marks a steep fall for a man who was once one of Germany’s most visible business leaders.
[Reuters]
More Must-Reads from TIME
- How Donald Trump Won
- The Best Inventions of 2024
- Why Sleep Is the Key to Living Longer
- How to Break 8 Toxic Communication Habits
- Nicola Coughlan Bet on Herself—And Won
- What It’s Like to Have Long COVID As a Kid
- 22 Essential Works of Indigenous Cinema
- Meet TIME's Newest Class of Next Generation Leaders
Write to Justin Worland at justin.worland@time.com