As family members weep, the thief is sentenced to prison for betraying a magazine founder's trust.
By CHRIS TISCH
Published June 3, 2003
LARGO - Jim Woldseth's parents cashed in the equity on their home and took out a $100,000 loan. His father, a retired pastor, planned to head back to work to help their son pay restitution.
As the judge later put it, they were willing to bankrupt their golden years so their son could avoid a trip to state prison.
But Stuart Arnold said it was never about the money. It was more about betrayal.
But there was a lot of money. Woldseth stole more than $823,000 from Arnold. The thefts occurred while Woldseth worked as a personal accountant for Arnold, the founder of Auto Trader magazine.
And what did he use most of it for? Gambling, pornography and prostitution, prosecutors said.
On Monday evening, Judge Dee Anna Farnell sentenced Woldseth, 40, to 20 years in prison on charges of grand theft and money laundering. Woldseth had pleaded guilty to the charges Oct. 14.
Though sentencing guidelines called for a minimum of about 11 years in prison, with a maximum of 135 years, Woldseth was hoping Farnell would give him a break. His lawyer asked for probation and restitution.
Woldseth's mother, father, brother and a family friend asked the judge for mercy. They said Woldseth was a good man who cared deeply for his 5-year-old son.
"With Jim locked up, he can be of no help to his family, his son and society," his father, George Woldseth, said.
Jim Woldseth's attorney, Bjorn Brunvand, said his client could attend counseling for his addictions, then work to pay off what he stole from Arnold. Woldseth had worked for some time as a newspaper carrier for the St. Petersburg Times while out on bail after his Nov. 21, 2001, arrest, Brunvand said.
Woldseth, teary eyed through much of the hearing, stood, turned to face Arnold and apologized.
"I'm very sorry for my betrayal of trust," he said.
But Farnell didn't bite.
"Quite frankly," she told Woldseth, "I don't care about your rehabilitation at this point in time.
"It's really not about the money," she added. "We've got broken hearts all over this courtroom."
Indeed, when Farnell announced her sentence, Woldseth's father, who also had cried for much of the hearing, headed for the door weeping. Woldseth's brother, who had flown here from Madison, Wis., to testify on his brother's behalf, wept so forcefully that he had trouble breathing.
Woldseth had started working for Arnold in 1998. His thievery began almost immediately, prosecutor Evan Brodsky said in court.
The thefts occurred over a period of three years. Woldseth forged Arnold's personal checks, then used them for his own use. An associate who prosecutors say helped him, Steven Dunne, 36, is still awaiting trial on related charges.
Woldseth said he spent about $150,000 of the money he stole on pornography. He gambled away up to $300,000 more. Another $300,000 went into failed business ventures that were, more or less, gambles.
"The money was all used for the benefit of Jim Woldseth and nobody else," Brodsky said.
Arnold created Auto Trader magazine in the 1970s in his garage. The Clearwater-based magazine later grew into the largest classified magazine business in the nation.
By the time he sold Trader Publications in 1988, it had grown into a chain of dozens of magazines. Arnold later bought a television and film production studio called CPN Television, which he sold in 1997.
Arnold and his family say they considered Woldseth a member of their family. His betrayal has hurt them financially and emotionally. Arnold and his daughter also have suffered health problems since the arrest.
"If someone stole $100,000 from somebody, that would be terrible," Arnold said in court Monday. "He's done that to me 81/2 times.
"It's more than two men make in a lifetime."
Yet Arnold and his daughter, Bonnie Arnold, said the loss of the money didn't hurt as much as the sting of betrayal.
"I wouldn't have traded it all for the anguish," Stuart Arnold said.
