Former GameStop VP gets four years in prison for mail fraud
Frank Christopher Olivera sentenced to 51 months in federal prison after stealing $1.7 million from retailer over course of two years.
His admission to mail fraud carried a maximum 20-year prison sentence and a $250,000 fine.
Olivera stole $1.7 million from GameStop from July 2009 through April 2011 by submitting fraudulent invoices from a made-up company called "Cloud Communications LLC."
In addition to making up a company, Olivera created a fictitious person, "Jennifer Miller," to act as a point of contact for the fake firm. Olivera would deposit checks from GameStop into Cloud Communications' bank account, then transfer the funds to his personal account.
The $1.7 million Olivera stole from GameStop has been returned to the retailer, along with an additional $57,376, the amount unpaid on the loss, and $77,275 in restitution.
Olivera was terminated from his position in 2011. A GameStop representative was not immediately available to comment.