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Former GameStop VP gets four years in prison for mail fraud
Frank Christopher Olivera sentenced to 51 months in federal prison after stealing $1.7 million from retailer over course of two years.
A U.S. District Judge has sentenced former GameStop VP Frank Christopher Olivera to 51 months in federal prison (via Polygon) after pleading guilty in November to one count of mail fraud.
His admission to mail fraud carried a maximum 20-year prison sentence and a $250,000 fine.
Olivera stole $1.7 million from GameStop from July 2009 through April 2011 by submitting fraudulent invoices from a made up company called "Cloud Communications LLC."
In addition to making up a company, Olivera created a fictitious person, "Jennifer Miller," to act as a point of contact for the fake firm. Olivera would deposit checks from GameStop into Cloud Communications' bank account, then transfer the funds to his personal account.
The $1.7 million Olivera stole from GameStop has been returned to the retailer, along with an additional $57,376, the amount unpaid on the loss, and $77,275 in restitution.
Olivera was terminated from his position in 2011. A GameStop representative was not immediately available to comment.
Read and Post Comments | Get the full article at GameSpot
"Former GameStop VP gets four years in prison for mail fraud" was posted by Eddie Makuch on Tue, 12 Mar 2013 05:22:59 -0700
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A U.S. District Judge has sentenced former GameStop VP Frank Christopher Olivera to 51 months in federal prison (via Polygon) after pleading guilty in November to one count of mail fraud.
His admission to mail fraud carried a maximum 20-year prison sentence and a $250,000 fine.
Olivera stole $1.7 million from GameStop from July 2009 through April 2011 by submitting fraudulent invoices from a made up company called "Cloud Communications LLC."
In addition to making up a company, Olivera created a fictitious person, "Jennifer Miller," to act as a point of contact for the fake firm. Olivera would deposit checks from GameStop into Cloud Communications' bank account, then transfer the funds to his personal account.
The $1.7 million Olivera stole from GameStop has been returned to the retailer, along with an additional $57,376, the amount unpaid on the loss, and $77,275 in restitution.
Olivera was terminated from his position in 2011. A GameStop representative was not immediately available to comment.
Read and Post Comments | Get the full article at GameSpot
"Former GameStop VP gets four years in prison for mail fraud" was posted by Eddie Makuch on Tue, 12 Mar 2013 05:22:59 -0700
More...