Former GameStop VP sentenced 51 months for embezzling over $1.7M
The Northern District Court of Texas sentenced Frank Christopher Olivera, the former VP of corporate communications and public affairs at GameStop, to 51 months in federal prison. Olivera, who pleaded guilty to embezzling over $1.7 million via mail fraud, was also fined $57,375 for funds unpaid on GameStop's loss, and a further $77,275 in restitution.
According to federal documents, Olivera set up a fictitious Nevada-based company called Cloud Communications to send payments from GameStop to, across a period of July 2009 to April 2011. Olivera placed the payments in an account held by Cloud Communications, and then transferred the money to his personal bank account.
