*NEWS*STAPLES,INC VP. CHARGED WITH FRAUD

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*NEWS*STAPLES,INC VP. CHARGED WITH FRAUD

 user 2006-10-03 at 11:29:00 am Views: 73
  • #16616

    Former Staples, Inc. Vice President Charged with Mail Fraud, Wire Fraud & Money Laundering, Reports U.S. Attorney
    BOSTON, oct  06 A former vice president of Staples,
    Inc. (“Staples”) was charged late yesterday in federal court with operating a scheme to defraud Staples in excess of $550,000.United States Attorney Michael J. Sullivan and Peter Zegarac, Inspector in Charge of the U.S. Postal Inspection Service in New England, announcedthat JAMES Y. DORMAN, age 39, formerly of 99 West Main Street, Westborough, Massachusetts, was charged in an Indictment with eights counts of mail fraud, three counts of wire fraud, and three counts of money laundering. According to the Indictment, DORMAN was employed at Staples as Vice President of Marketing for the Staples Contact Division. It is alleged that DORMAN engaged in a scheme to defraud Staples by misappropriating corporate funds for his own benefit as well as the benefit of three individuals with whom he had a personal relationship.It is alleged that DORMAN accomplished his fraud scheme by authorizing and submitting fictitious vendor invoices for which Staples issued hundreds of thousands of dollars of disbursement checks payable to the three individuals or to corporate entities ostensibly owned or operated by them. It is alleged that as a result of his execution of this scheme, DORMAN embezzled at least $584,826 and attempted to embezzle at least an additional $600,000.The Indictment further alleges that DORMAN fraudulently misused and misappropriated travel funds to pay for both his personal travel as well as travel-related expenses for the three individuals and their friends. It is alleged that DORMAN also fraudulently misused his corporate American Express card to pay for gifts, travel, and other expenditures related to the three individuals for which he fraudulently sought and received reimbursement by Staples. According to the Indictment, on at least three occasions, DORMAN instructed the individuals to re-direct some of the stolen funds that were derived from the fictitious vendor invoices to him. DORMAN has been terminated by Staples, Inc. If convicted, DORMAN faces up to 20 years’ imprisonment, to be followed by 3 years of supervised release, and a $250,000 fine for each mail and wire fraud offense. In addition, DORMAN faces up to 10 years’ imprisonment, to be followed by 3 years of supervise release, and a $250,000 fine for each money laundering offense. The case was investigated by the U.S. Postal Inspection Service. It is being prosecuted by Assistant U.S. Attorney Linda M. Ricci in Sullivan’s Economic Crimes Unit.The details contained in the Indictment are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.