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Former GameStop VP gets 51 months for fraud, embezzlement

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(Credit: GameStop)

Two years ago, Frank Christopher Olivera was scheduling media conference calls with GameStop executives.

He was also illegally pocketing a lot of money from the company.

Olivera, former VP of corporate communications and public affairs at GameStop, pleaded guilty last year to embezzling nearly $1.7 million from the game retailer via mail fraud. Late last week, a District Court judge in Texas handed down his punishment, sentencing Olivera to 51 months in federal prison for the crime. We're guessing his membership in the GameStop Power Up Rewards program has also been revoked.

Olivera managed to take the money by setting up a fake marketing company called Cloud Communications and a fictional contact within that company. Once those were established, the 'company' began invoicing GameStop for various services.

The person who signed off on those invoices? Yep. Olivera.

"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 U.S. 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."

Accountants tracked the money to him, and though he paid back the majority of it, the Court is forcing him to pay "additional costs" of $134,651 as well as serve jail time.

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