Plea negotiations are ongoing in the case of a former MillerCoors executive’s “scheme to defraud his employer through invoices for fake marketing events,” according to Law360.
Former MillerCoors VP David Colletti pled guilty to recruiting vendors to help him scam MillerCoors. According to Law360, “in May, Colletti, who ran the company’s marketing, admitted to coaching vendors…to submit inflated or falsified invoices for marketing events to MillerCoors, signing off on them, and then collecting a portion of what the beer company paid out.” The scam allowed vendors to allegedly bring in as much as $3.5million.
The take away? Be sure proper approvals are in place for expenses, which includes confirmation that the agencies are reputable and the events or items being paid for actually occurred or exist.