Oklahoma man convicted of defrauding Frank Broyles' foundation | Arkansas Blog

Tuesday, November 24, 2015

Oklahoma man convicted of defrauding Frank Broyles' foundation

Posted By on Tue, Nov 24, 2015 at 12:20 PM

click to enlarge BETSY ARNOLD: She was a key witness in trial of Oklahoma man convicted of defrauding her father, Frank Broyles.
  • BETSY ARNOLD: She was a key witness in trial of Oklahoma man convicted of defrauding her father, Frank Broyles.
The Tulsa World reports that an Oklahoma man was convicted by a federal jury Monday of a string of charges related to defrauding some $267,000 from a foundation set up by former Arkansas Athletic Director Frank Broyles and his wife to help those caring for people with Alzheimer's disease.

Kelly Nichols, 47, of Sapulpa was convicted of mail fraud, two counts of money laundering and three bankruptcy fraud counts. Nichols was accused of receiving $267,000 to print booklets for caregivers that were to be distributed  by the foundation, but spent the money on his own expenses. Attorneys for Nichols, who didn't testify, said he meant well but was a poor manager.

The Broyles family established a foundation to help caregivers for people with Alzheimer's as Broyles himself was for his first wife, Barbara, who died in 2004.

According to the Tulsa World, Broyles' daughter, Betsy Arnold, said Nichols and her father became friends when Nichols was organizing a Promise Keepers men's ministry event at Razorback Stadium in 2004.Broyles advocated that the stadium be opened to Nichols' event.

The Walton Foundation paid for the first printing of the Broyles caregivers' booklet, but Arnold said Nichols told her father he had contacts who could do a second printing for less money in China. Nichols' company printed 500,000 copies and in 2009 the Foundation ordered another 600,000. Arnold said the printing was poor and she told Nichols to do another printing. Her father and his wife used $200,000 from trust accounts to help pay for the third printing. Though Nichols was paid $267,000, the print job wasn't done and Nichols told Arnold he couldn't refund the money because he'd spent it.

The Broyles project was a central part of a 2014 final retirement ceremony for Broyles.


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