Former Oilers owner Pocklington arrested

Former Edmonton Oilers owner Peter Pocklington has been arrested at his Palm Desert home for allegedly concealing assets during bankruptcy proceedings.

In an indictment unsealed Wednesday, Pocklington is charged with making false statements in bankruptcy and making false oaths and accounts in bankruptcy. If convicted, he faces up to 10 years in federal prison.

The 67-year-old Pocklington acquired and sold Wayne Gretzky. His Oilers won five titles in seven years. He sold the team in 1998.

Pocklington is accused of failing to disclose two bank accounts and the contents of two storage units. He claimed to have debts of nearly $20 million but assets of only about $2,900.

It was unknown if he had an attorney.

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