GameStop VP pleads guilty to $2 million embezzlement charge
3rd Nov 2012 | 19:30
Former GameStop VP of corporate communications Frank Christopher Olivera has pleaded guilty to embezzling nearly $2 million from the retailer.
Olivera was charged with mail fraud when investigators allegedly discovered that he was funneling money from GameStop to his personal account via a fictitious firm he created in Nevada.
According to the guilty plea, Olivera had set up a fake PR agency called Cloud Communications, through which he would bill GameStop for fake work, and this cash would eventually find its way back into Olivera's personal account.
Olivera reportedly embezzled over $1.9 million between July 2009 and April 2011, before being caught out. Following his guilty plea to one count of mail fraud on Thursday, he faces up to 20 years imprisonment and a $250,000 fine.