Judge Orders Golden Temple Execs To Return Money

By Jim McCoy Tue 19th June NewsBusiness newscourt rulings

A judge has ruled that the CEO and four other executives who wrongfully assumed 90 percent ownership of the Eugene food company Golden Temple in 2007 must return $36 million to a receiver.

     The order from Multnomah Circuit Judge Leslie Roberts is the latest development in a long struggle over a company whose cereal and tea businesses were an anchor of Eugene natural foods industry.

     The Register-Guard reported Tuesday that a Portland management and turnaround expert, Conrad Myers, has been named receiver for the company, now known as East West Tea Co. The cereal division was sold in 2010 for $71 million.

     The company is among the enterprises inspired by the Sikh religious leader Yogi Bhajan, who died in 2004.

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