Wednesday, December 3, 2008

Former NBC Universal Employee Sentenced To 21 Months For Embezzlement

James Walsh, 35, former employee of NBC Universal, Inc., was sentenced yesterday to 21 months in prison, plus restitution for his role in embezzling some $238,450 from the company. Walsh, who left NBC in 2006 as treasury manager, pleaded guilty last August to conspiracy to commit wire fraud and one count of wire fraud. According to the criminal complaint, Walsh and his boss, Victor Jung, "engaged in a scheme to embezzle" money from the company, initially by taking petty-cash and later setting up a dummy company called NBC Universal Media Productions, LLC, to which three wire transfers were made. Jung, a 12 year NBC Universal veteran, pleaded guilty in May to conspiracy and three counts of wire fraud and is scheduled to be sentenced next week. Prosecutors believe the overall loss was more than $800,000.

Read the story here, here and here.

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