When I say that the former VP of GameStop, Frank Christopher Olivera, committed fraud, I’m not just talking about how GameStop notoriously underpays for the games you trade-in. No, this man actually managed to funnel over a million dollars into his own private bank account under the guise of official business for the company. And you thought things like that only happened in Office Space…
Here’s the lowdown. Mr. Olivera created a Nevada-based company called “Cloud Communications”—which doesn’t really exist, by the way–and sent payments to that company’s account via GameStop, officially. He then, craftily, had those funds directly passed from the fake CC account to his own bank account. He did this from July 2009 to April of 2011, and he netted himself approximately $1.7 million in the process. Unfortunately for Olivera, however, he was eventually caught (even GameStop isn’t big enough to not realize they were out almost 2 mil in 3 years), and he was tried recently in Dallas, Texas. The FBI investigated him and found he even created a fake person to receive all the official checks, and for these last few years he got away with it.
Unfortunately for Frank, everything is bigger in Texas, including the penalty for his crimes. Judge Jane Boyle sentenced him to 51 months in federal prison, and he was legally invoiced for every penny he stole to be paid back to GameStop, as well as an additional $135,000 in restitution for his crime. The grand total winds up to be a whopping $1,965,900 that he owes, on TOP of his 4 and half years of prison service.
The moral of this story? Don’t steal from GameStop, even if you run it. If there’s anything they take seriously, it’s money.