Two Financial Hands at NBC Universal Going To Prison

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Two Financial Hands at NBC Universal Going To Prison

Wed Dec 03, 2008 @ 04:20PM PST

By Eriq Gardner

Two former executives in NBC Universal's treasury department have pleaded guilty on charges they committed a conspiracy to steal more than $800,000 from the company.

Last year, the FBI arrested treasurer Victor Jung and accused him of a scheme that siphoned money from NBC corporate parent General Electric into private bank accounts. Jung then used the money to lease corporate jets to fly he and his friends down to Miami, Antigua and the Turks and Caicos Islands. He also spent $56,000 in GE money on a four-bedroom Sag Harbor rental house and $86,000 to pay a credit card bill. Here's the original indictment.

His underling, James Walsh, was also arrested and charged with conspiracy and wire fraud, and plead guilty earlier in the year. Yesterday in New York District Court, he was sentenced to 21 months in prison.

After pleading guilty, Jung, 36, will hear his own sentence on December 11.

 

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The Hollywood Reporter, Esq. blog focuses on how the entertainment and media industries are impacted and influenced by the law. It is edited by Matthew Belloni with contributions from veteran legal reporter Eriq Gardner and others. Before joining The Hollywood Reporter, Belloni was a lawyer at an entertainment litigation firm in Los Angeles. He writes a column for THR devoted to entertainment law. Gardner is a New York-based writer and legal journalist. Send tips or comments to Matthew.Belloni@thr.com

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