Sections

Former GameStop VP jailed for fraud

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.

Related stories

GameStop forecasts bigger-than-expected holiday sales drop

World's largest games retailer predicts decline during crucial selling period

By James Batchelor

October's big new releases disappoint - GameStop

Retailer says month with Battlefield 1, Mafia III, Gears of War 4, PSVR fell short of software sales expectations

By Brendan Sinclair

Latest comments (2)

Kevin Clark-Patterson Lecturer in Games Development, Lancaster and Morecambe College3 years ago
He obviously knew how to play the 'game'

Ba dum tssshhh!
0Sign inorRegisterto rate and reply
David Serrano Freelancer 3 years ago
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.
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.