Former Portland Marathon president sentenced in embezzlement case
By KPTV Staff
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PORTLAND, Oregon (KPTV) — The former president of the Portland Marathon Inc. pleaded guilty Tuesday to crimes while leading the organization and will serve three years’ probation.
According to the U.S. Attorney’s Office – District of Oregon, Lester V. Smith, Jr., 80, the former president and event director of the Portland Marathon Inc. (PMI), orchestrated unauthorized fund transfers from PMI’s account to his personal checking account from Jan. 2012 to at least April 2018.
Smith held various titles within PMI over the years. However, as president and event director, he oversaw the organization’s daily operations and finances, possessing sole authority over PMI’s business bank account.
Court docs allege Smith utilized PMI funds to cover personal credit card expenses and wrote unauthorized checks to himself. In one instance, a PMI check was reportedly used to purchase a $60,000 Infiniti sport utility vehicle. Smith is further accused of using embezzled funds for home renovations, shopping sprees, home decor, luxury goods, and services. Simultaneously, he is alleged to have significantly underreported his taxable income to the IRS in multiple tax years.
The total amount Smith is accused of embezzling from PMI exceeds $1 million.
On Tuesday, Smith pled guilty to only one charge against him, Count 5 — charging him with Attempting to Evade and Defeat Income Tax. All other charges against him were dismissed.
Smith is sentenced to probation for a period of three years and is required to pay restitution of $411,279.
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