Thursday, March 8, 2012

Former CEO Of Glock Firearms Found Guilty Of Racketeering; Skims "Millions"

Paul F. Jannuzzo
Paul Francis Jannuzzo, 55, of Atlanta, Georgia, has been found guilty conspiring with another former executive to "skim millions" from Glock, Inc., for which he had served as CEO.  Jannuzzo was indicted in 2009 for conspiring with Peter Manown, another former Glock executive and local attorney, to "divert millions of dollars from the company between 1991 and 2003 using cloned bank accounts, forged documents, and fraudulently obtained loans."  Manown accepted a plea agreement in 2008 in exchange for assistance in the prosecution of Jannuzzo. 

Read the story herehere and here.

Update (4/11/2012): Jannuzzo was sentenced to 7 years in prison for his role in the pilfering of more than $5 million from Glock, Inc.

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