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Retail

Former GameStop VP jailed for fraud

Former GameStop VP jailed for fraud

Tue 12 Mar 2013 9:40am GMT / 5:40am EDT / 2:40am PDT
RetailPeople

Frank Christopher Olivera used a fictitious company to con retailer

Frank Christopher Olivera, former VP of corporate communications and public affairs at Gamestop Texas, has been sentenced to 51 months in federal prison for defrauding the company.

Olivera invented a company, Cloud Communications LLC, and used it to steal over $1.7 million from GameStop, using fake invoices and a fictitious employee.

"Olivera directed Gamestop to send the payments from Gamestop's offices in Grapevine to Cloud Communications LLC in Las Vegas and Lake Tahoe, Nevada and in Canada," said a statement from the US Attorney's Office.

"In addition to creating a fictitious company, Olivera also created a fictitious person, 'Jennifer Miller,' to serve as the point of contact at Cloud Communications. Upon receipt of payments from Gamestop, Olivera would deposit the checks into a bank account held by Cloud Communications and then would transfer the fraudulently obtained funds into his personal bank account."

Olivera plead guilty to the charges last November and was sentenced by Judge Boyle last Thursday. As well as the jail time he's been ordered to pay $134,651 in additional costs. He has already returned "most of" the $1.7 million to GameStop.

2 Comments

Kevin Clark-Patterson Lecturer in Games Development, Lancaster and Morecambe College

294 27 0.1
He obviously knew how to play the 'game'

Ba dum tssshhh!

Posted:A year ago

#1

David Serrano Freelancer

300 272 0.9
It shows how little he thought of GameStop's CFO, COO and CEO. He wouldn't have done it unless he believed they were so incompetent that they'd never figure out his scheme.

Posted:A year ago

#2

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