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GameStop VP Pleads Guilty To $2 Million Fraud

By Ryan Crowe, CBSDFW.com

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GRAPEVINE (CBSDFW.COM) - A former Gamestop Vice President is quickly trying to hit the reset button to avoid a lengthy prison stay and heavy fines after he pleaded guilty one count of mail fraud in Federal Court.

Frank ‘Chris’ Olivera, Gamestop’s former Vice President of Corporate Communications and Public Affairs, made the plea Tuesday in Dallas after the FBI and U.S. Attorney’s office for the Northern District of Texas brought a case against him showing that he created and ran a fake company from July 2009 to April 2011.

Olivera would have been sentenced Thursday in Dallas, but Judge Jane Boyle delayed the sentencing after lawyer Tim Evans asked the court to not use statements from Gamestop, calling them allegations that had nothing to do with the case.

Olivera, 46, used the company, Cloud Communications LLC, as a fake vendor for Gamestop and would submit invoices for work done by the company to Gamestop’s corporate offices in Grapevine from Cloud Communications from Las Vegas and Lake Tahoe, as well as locations in Canada.

Olivera also created an alias, a woman named Jennifer Miller, to operate as Cloud Communications’ point of contact.

He would deposit all money collected as Cloud into one account, then transfer it into his personal account.

In 21 months of operation, Olivera skimmed nearly $2 million in fraudulent invoices from Gamestop while continuing to serve as a company executive.

Olivera remains free on bond.  He faces a maximum 20 years in prison and a $250,000 plus restitution.  He claims to have already repaid all the money embezzled from Gamestop.

A new date for his sentencing has not been scheduled.

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