Man Charged With Selling His Employer's Domain Name For $200k

[matcom]

<snip>

A 41-year-old Sheboygan man was charged Monday after he allegedly sold his employer's domain name for $200,000 and used corporate credit cards to finance international trips with a "stripper" girlfriend, according to a complaint filed in Milwaukee County Circuit Court.

Stephen M. Galstad, of 429 St. Clair Ave., is accused of selling the sofa.com domain name owned by Dinesen's Leather Only and depositing the money in his personal account.

If convicted, he could spend five years behind bars and face fines up to $25,000 on the charge of theft in a business setting. But his lawyer said Monday that Galstad was promised the domain name by the now-deceased company founder, and sold it believing it was his to sell.

"Fritz Dinesen pro-mised him this domain," said attorney Richard Hahn. "There's at least one witness … (who) indicated that he overheard Mr. Dinesen indicate that the domain was promised to Steve."

But Hahn said there is no documentation of the promise, and Lynn Dinesen, Fritz's widow, said that's because there was no such agreement.

"It's totally false — period," she said. "He just made that up to try and get himself out of it."

http://www.sheboygan-press.com/apps/pbcs.dll/article?AID=/20070807/SHE0101/708070397/1973

[JVS]

1. that dumbass! you take the 200K, and never come back!