The US Attorney’s Office has prosecuted Frank Christopher Olivera, who was the VP of Corporate Communications & Public Affairs for GameStop, over charges of fraud against his former employer, which has resulted in a 51 month jail term for Mr Olivera. The sentence was handed down by District Judge Jane Boyle of Texas.
Mr Olivera had already pleaded guilty to the charges of fraud in November. He had set up a dummy company called Cloud Communications LLC, which started invoicing GameStop for services rendered from July 2009 up until April 2011. These invoices totalled to the amount of $1,965,500, of which approximately $1.7 million was paid.
The way this fraud took place was that GameStop would pay these invoices to Cloud Communications LLC, which were sent by a fictional person called Jennifer Miller. Once the money hit the Cloud Communications’ bank account Olivera would transfer the funds and put the money into his own account.
Olivera has paid back most of the fraudulent funds to GameStop, but on top of his 51 month sentence he has been ordered to pay a further $134,651. This total will cover the loss by GameStop as well as compensation.
Source: US Department Of Justice
carson321
This isn’t even a complicated case of fraud, how did he think he was going to get away with this, more to the point, how did he manage to get away with it for any length of time?!