Former GameStop executive pleads guilty in embezzlement

Posted Monday, Nov. 05, 2012  comments  Print Reprints

Topics: Gamestop

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A former GameStop executive has pleaded guilty to a federal felony charge in connection with an embezzlement scheme that netted him more than $1.9 million of the company's money over a two-year period.

Chris Olivera, who was vice president of corporate communications and public affairs for the Grapevine-based video game retailer, entered a guilty plea in federal court in Dallas on Nov. 1. He was charged with mail fraud, which carries a 20-year prison sentence and a fine up to $250,000. He can also be ordered to pay restitution. A sentencing date will be scheduled.

GameStop issued a statement saying 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," the statement said.

According to the indictment, Olivera processed invoices from vendors as part of his job. Beginning in July 2009 and until April 2011, Olivera funneled money to a fictitious company he created, called Cloud Communications, with offices in Canada, Las Vegas and Lake Tahoe, as well as a fictitious employee named Jennifer Miller.

Olivera would submit written invoices for services that were never provided to GameStop, court filings said.

Once the money was deposited into Cloud Communications accounts, it was transferred into Olivera's personal bank account, court papers said.

The mail fraud count stems from a $40,500 check issued by Olivera at GameStop in September 2009, court filings said.

Olivera also once served on the corporate communications staff at Fort Worth-based RadioShack.

Sandra Baker, (817) 390-7727

Twitter: @SandraBakerFWST

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