Former GameStop VP pleads guilty to $2 million embezzlement scheme

Ex-corporate communications and public affairs executive Frank Christopher Olivera pleads guilty to defrauding game retailer from 2009 to 2011.

Former GameStop vice president of corporate communications and public affairs Frank Christopher Olivera has pleaded guilty to embezzling nearly $2 million from the nation's largest game retailer.

According to a federal indictment obtained by The Dallas Observer, Olivera regularly moved funds from GameStop to Cloud Communications LLC from July 2009 through April 2011.

Cloud Communications existed solely on paper, the documents say, with Olivera transferring the funds to his personal bank account.

In Olivera's guilty plea, he admitted to one count of mail fraud, which carries a maximum 20-year prison sentence and a $250,000 fine. A GameStop representative declined to comment in a statement to Joystiq, but confirmed that Olivera was terminated last year.

Written By

Eddie Makuch is a news editor at GameSpot, and would like to see the Whalers return to Hartford.

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Discussion

147 comments
EMPTY-V
EMPTY-V

guess its funny to see Gamestop stealing from itself for a change. I worked 2 shifts there about 6 years ago. I thought it would be cool to work game-retail, since I'm a gamer. I hated it. My job was to arrange the game shelves after kids came in and ruined it - pretty much like building sand castles all day only to wait and expect people to step on 'em.

Santeriaxx420
Santeriaxx420

I hope he drops the soap for screwing me on games.

Santeriaxx420
Santeriaxx420

Doesnt surprise me, just more the reason to torrent all my crap. Screw gamestop

GamespotSux_IKR
GamespotSux_IKR

HAHA Cornhole!

I feel sorry for the employee's. I can tell they hate Gamestop sometimes

DerekXSpence
DerekXSpence

I hope he gets jail time complete with corn holing and all!

2bitSmOkEy
2bitSmOkEy

Nothing surprising here.  Gamestop has always been shady.

farcorners
farcorners

how could he believe he would not get found out?

mattman127
mattman127

Got 7 cents for my Guitar Hero 3. Started working there and now I know why.. if Guitar Hero didn't exist our lives would be so much easier.. but we'd miss out on a fantastic episode of South Park..

hardeman
hardeman

buying games for 9 bucks then reselling them for 55 bucks, the whole gadamn company is an embezzlement scheme

franzito
franzito

And to think people who deal with lots of money still have the temptation to get some for themselves.

ChemicalReaper
ChemicalReaper

Oh, no - a $250k fine! What will he do with the other $1.75M? Maybe pay bail and buy a nice yacht.

tightwad34
tightwad34

This is really going to help their faulty standing with the smart part of society. I also love to see greedy people burn, or in this case get their justice.

Kushups
Kushups

damn hes getting what he deserves.

JDWolfie
JDWolfie

I hope he takes a "Collector's Edition" right up the a$$.

soulless4now
soulless4now

Damn, that's a pretty penny. That guy deserves to be locked up. 

nurnberg
nurnberg

Frank Christopher Olivera, VP of fund transfer affairs

nurnberg
nurnberg

What about all the millions that Gamestop stole from gamers by falsely selling games that were clearly used as "new"?

GH05T-666
GH05T-666

what and idiot. i hope he suffers now

NextGenNinjaHD
NextGenNinjaHD

The real Gamestop mission statement live for your viewing pleasure

burrito_tester
burrito_tester

I wish my Gamestop looked liked the one one in the picture...

AiGeeEn1
AiGeeEn1

After reading this I cancelled my Pre-Order of Hitman: Absolution from Gamestop.  Thanks for the Sniper Challege game Gamespot.  In turn,  I'll just buy the game from Best Buy.

tim1935
tim1935

I'll bet he gets to keep the money too...

HonorOfGod
HonorOfGod

Moron are you not happy that you have a job? why do this crap they will always catch you.. unless you are part of the Illuminati.. crap giving him ideas now he might join them.

craigprime
craigprime

Well, that's embarrassing. This is why I go to family-owned gaming store.

Kerrizma
Kerrizma

He should apply to EA.  He sounds like a perfect fit for the company.

Vodoo
Vodoo

It's nice to know that while they're ripping us off, their own VP's are ripping them off.

Mr_Big_Boss
Mr_Big_Boss

This guy is a good example of how Gamestop executives operate.

Promised_Trini
Promised_Trini

Wow that is crazy,I had to idea this was going on.

Xneffeckt
Xneffeckt

I never buy a game new unless i know im gonna play it for a long time...Gears, Call of Duty, Halo ect...do your research before u get a game n then you wont have to worry about trading it in and losing money. I buy maybe 3 new games a year from Gamestop...and ive been working there for pushing 5 years. And i have no complaints about the prices.

rarson
rarson

 @Santeriaxx420 

 

You know you can legally buy games without going to Gamestop, right?

brain56
brain56

 @DerekXSpence , may his bottom forever be inconvenienced by the prickling of tiny thorns and his booty valve  "corned".

Lamesy
Lamesy

 @tightwad34 WTH does one guy being caught for embezzlement have to do with Gamestop's biggest consumer problems? As a reminder, those include gutted new games, pushy desperate salespeople egged on by preorder quotas, and a buy/sell profit average of 300% which builds customer resentment.

dnguyen3
dnguyen3

 @nurnberg just wondering, is there actually proof, like any articles, of that or is it your personal experience because I'm pretty sure my games are new. 

x007wes
x007wes

 @burrito_tester

 It's nice... it's in Grapevine Mills Mall in Grapevine, Texas.  I think Grapevine is the corporate HQ of Gamestop. but not sure.

Devil_wings00
Devil_wings00

 @Kerrizma Ya they have been embezzling money from customers using something called DLC for years now. Why no charges? ;p

Drummer4Life321
Drummer4Life321

 @Kerrizma Now, now, I think there are enough people like him who work at EA already. No need to add even more of their kind.

Lamesy
Lamesy

 @Vodoo Well said. If a company breeds a sole focus on profit and rewards greedy aggressive behaviour, this is the type of employee they attract. I'm not holding my breath, but wouldn't it be refreshing if GS learned a lesson and started fostering corporate responsibility and ethics.

Overeduk8ed
Overeduk8ed

 @somatzu Actually, at the location where I worked when I sold my soul to GameStop, there was a low-level manager who had been a FunCoLand hire

tightwad34
tightwad34

 @Lamesy

 I meant they have a bad reputation for various things and any sort of hit like this won't help them one bit.

nurnberg
nurnberg

 @dnguyen3  @nurnberg

 Two times, I have bought "new" games at Gamestop where the disk was scratched and dirty.  Tons of people tell the same story.  Many current and former Gamestop employees said that employees can bring new games home to play them, and still sell them as "new" games later.  The evidence is over-whelming.

tightwad34
tightwad34

 @Lamesy

 I was kind of being sarcastic, but what I should have said was they had a higher up being a corrupt d-bag. Doesn't matter if he stole from Gamestop or someone else. Also means he isn't the only one.

Lamesy
Lamesy

 @tightwad34 Oh, you really were being sarcastic. heh. Because of the second statement, I assumed the first was a related "they fired a bad man, so they're a good company" plea. My bad.