X-Message-Number: 26959
Date: Wed, 7 Sep 2005 20:40:19 -0500
From: The NanoAging Institute <>
Subject: Finally, Details on How Reeves (180 000$) Stole It to Alcor

I guess Alcor prefers that its members and prospective members get
their information from the newspapers, instead.

http://www.eastvalleytribune.com/index.php?sty=47534

Police arrest ex-Alcor bookkeeper 
By Amanda Lee Myers, Tribune 
September 7, 2005 

The former bookkeeper of a Scottsdale firm famous for freezing dead
bodies has been arrested on suspicion of bilking nearly $180,000 from
the firm and one of its clients.

Timothy Reeves, who left his job in May at the Alcor Life Extension
Foundation in north Scottsdale, was arrested Aug. 25 in connection
with felony theft, fraudulent schemes and forgery, said Scottsdale
police detective Sam Bailey.

Alcor is a nonprofit firm that freezes human bodies and heads in
liquid nitrogen. Clients, who pay $120,000 in advance for a full-body
breeze, hope future technology will bring them back to life. Alcor
stores 67 human remains at its facility, including the head of
baseball Hall of Famer Ted Williams.

Police believe Reeves forged checks worth nearly $26,000, stole more
than $1,000 cash from bank accounts and forged a letter to a stock
brokerage firm to take $150,000 from an Alcor client who lives in
Europe.

Reeves told fellow employees when he quit that he was going to work at
Coach's Corner bar in Chandler, a police report states. He invested
the embezzled money in the bar, the report states.

Bailey said Reeves, who admitted forging checks, was released after
his arrest and that his case has been turned over to the Maricopa
County Attorney's Office.

"(Reeves) stated that he did forge checks and steal money from the
business," the report states. "He said that once he started, 'It
became easy.' "

Alcor officials said the missing $177,000 is a "substantial sum." But
it isn't enough to affect Alcor's members, said organization
spokeswoman Cheryl Walsh.

"This isn't a devastating event for Alcor," Walsh said. 

Alcor notified its members of the theft in its online newsletter Saturday. 

"No member should be concerned about their good standing with Alcor as
a result of this matter," the newsletter states. "We shall use this
situation as an opportunity to strengthen the internal controls that
the Alcor staff exercises to protect our organization."

Alcor also announced in the Saturday newsletter that company president
and CEO Joseph Waynick had resigned effective Aug. 28.

Waynick left the position he had held for two years for "personal
reasons" unrelated to the recent theft.

Waynick had discovered the money was missing from Alcor in early June
after a routine financial audit, the police report states.

Walsh said Waynick is continuing to investigate Reeves, along with an
auditor and a private investigator.

Steve Van Sickle, who has been a member of Alcor since 1992, will take
over Waynick's post temporarily until a permanent leader is found,
Walsh said.
Contact Amanda Lee Myers by telephone at (480) 970-2330.

Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=26959