Nike exec resigns after son used her credit card to fund sneaker business



High ranking nike executive resigned after a recent news reports revealed that had used the corporate credit card to help his luxurious resale sneaker business and herbert huber he and hiebert who worked for nike for almost twenty five years was most recently the company's vice president and general manager for north america her nineteen year old son. Joe herbert c. They spelled it wrong the first time. Purchase loads of sneakers and flip them for higher. Profits in one instance. He said that he gathered up. More than fifteen people to swarm a website selling pairs of the coveted easy boots and sneakers and use bots to bypass the system limited purchases to one per customer. Who are actually buying them. So he was able to snag them all up. Joe herbert said he bought one hundred and thirty two thousand dollars worth of yeezy s on his mom's credit card. I'm sorry. I'm a credit card and resold them for twenty thousand dollar profit. There's a couple of things that are going on here. So you may twenty thousand dollars on one hundred thirty two thousand one and you just keep one hundred thirty two thousand. You need at least double it. That's not very good Shares and stuff approve. The revenue of his company was making the teen sent financial statements to bloomberg reporter for the american express corporation card. And guess what was on his mother's name last year and herbert was promoted to nike's vice president and general manager for north america and moved the company touted -ly to a less than brick and mortar store and wanted depend on more of the nike app and stuff however she disclosed information that her son's company in two thousand eighteen and nike found no conflicts of interest. Her son also claimed that she was a high up at nike. He never received inside information from her so nonetheless she richie found out that he was using her car buying nike shoes. And all this other stuff and reselling them

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