frank-christopher-olivera
Latest
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.
Former GameStop VP pleads guilty to embezzling almost $2 million
Frank Christopher Olivera, former GameStop VP of corporate communications and public affairs plead guilty Thursday to one count of mail fraud for embezzling $1,965,900 from the company.According to the federal indictment, Olivera sent payments from July 2009 through April 2011 to Cloud Communications LLC. The Nevada company was fictitious, was "created and controlled by Olivera," and was used to funnel the transferred funds into Olivera's personal account."The company does not comment on matters pending in court, however, we will say that Mr. Olivera was terminated last year and GameStop has fully and completely cooperated with the government's investigation," a representative for GameStop informed Joystiq.According to the Dallas Observer, up to 20 years in prison and a $250,000 fine are the maximum penalties for the mail fraud charge Olivera plead guilty to.
