Former Gamestop vice president Frank Christopher Olivera has been sentenced to 51 months in federal prison for committing fraud.
GI.biz reports Olivera, who previously held the position of VP of corporate communications and public affairs at Gamestop Texas, was charged with defrauding his own company for more than $1.7m.
Olivera created a fictions company called Cloud Communications LLC to obtain the money – utilizing fake invoices and a made-up employee, ‘Jennifer Miller,’ to direct payments.
"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 in November, and was sentenced last week. On top of the hard time, he’s also been ordered to pay $134.5k in additional costs. The report added that "most of" the $1.7m has been returned to GameStop.