Frank Christopher Olivera, former GameStop VP of corporate communications and public affairs plead guilty Thursday to one count of mail fraud for embezzling $1,965,900 from the company.
According to the federal indictment
, Olivera sent payments from July 2009 through April 2011 to Cloud Communications LLC. The Nevada company was fictitious, was "created and controlled by Olivera," and was used to funnel the transferred funds into Olivera's personal account.
"The company does not comment on matters pending in court, however, we will say that Mr. Olivera was terminated last year and GameStop has fully and completely cooperated with the government's investigation," a representative for GameStop informed Joystiq.
According to the Dallas Observer
, up to 20 years in prison and a $250,000 fine are the maximum penalties for the mail fraud charge Olivera plead guilty to.