FORMER STAPLES VP. CHARGED WITH FRAUD

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FORMER STAPLES VP. CHARGED WITH FRAUD

 user 2006-10-03 at 11:31:00 am Views: 49
  • #16729

    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.