Peter Pocklington Busted, Glen Sather Posts $1M Bail

Former Edmonton Oilers owner, Peter Pocklington has been bailed out of jail in California by his former general manager, Glen Sather.

It was Pocklington who sold "The Great One," Wayne Gretzky to the L.A. Kings in 1988. Pocklington appeared in court in handcuffs and shackles, wearing an orange jump suit.

It has been widely reported that New York Rangers President and General Manager Sather posted $1 million bail for Pocklington two days after he pleaded not guilty to bankruptcy fraud charges.

The once-prominent Canadian businessman's release was approved on the condition that he wear an electronic monitoring device and that he be confined to his home in the wealthy desert enclave of Palm Springs, California, according to Reuters.

Pocklington aroused a great deal of anger in Edmonton and across Canada for trading hockey superstar Wayne Gretzky from the Oilers to the Kings.

There are several names that shall never be spoken here in Edmonton—names that are more infamous than famous. And right at the top of that local list is Peter Pocklington, Ol' Peter Puck, Yukon Jack wrote in the Edmonton Sun.

He said Pocklington will only be remembered in Edmonton for selling Wayne Gretzky.

The Globe and Mail in Toronto reported that Sather, a former Oilers coach and general manager who also serves as New York's team president, put up property in Minnesota as security to allow Pocklington to be released on bail.

The 67-year-old Pocklington was arrested at his Palm Desert home Wednesday on allegations he concealed assets during bankruptcy proceedings.

Pocklington is accused of making false statements in bankruptcy and taking false oaths. He could face up to 10 years in federal prison.

Pocklington filed for personal bankruptcy last year. He is accused of failing to disclose to a bankruptcy court, two bank accounts as well as the contents of two storage units.
He claimed to have debts of nearly $20 million and assets of only $2,900.

According to documents filed at the U.S. Bankruptcy Court by the Alberta government and other creditors, Pocklington “swindled scores of people” and fled Canada with “an international trail of creditors hot on his heels,” Darcey Henton reported in the Edmonton Journal.