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NBC Universal ex-treasurer arrested on $800,000 theft charge

NBC Universal ex-treasurer arrested on $800,000 theft charge

The former treasurer of NBC Universal was arrested Thursday on charges that he stole more than $800,000 (euro616,428) from the company to spend on himself, federal prosecutors announced.
Victor Jung, 34, was charged with two counts of wire fraud, accused of using some of the stolen money on private flights to Miami, Antigua and the Turks and Caicos Islands, U.S. Attorney Michael Garcia said in a statement.
During the flights, Jung and his travel companions enjoyed delicacies including shrimp cocktail, Veuve Cliquot champagne and Mondavi wine, the prosecutor said.
If convicted, Jung could face a maximum of 20 years in prison and a maximum fine of $250,000 (euro192,634) or twice the gain resulting from the crime.
Jung was scheduled to make an initial court appearance Thursday, though it was not immediately clear who would represent him.
A message left with a woman who answered the phone at Jung's home was not immediately returned.
An indictment in U.S. District Court accuses Jung of stealing the money while he worked as the treasurer for NBC Universal in its offices at 30 Rockefeller Plaza in midtown Manhattan.
Jung, who was responsible for the company's collection efforts and for oversight of the company's bank accounts, stole the money by setting up an unauthorized company, NBCU Media Productions LLC, and transferring money into its accounts, the indictment said.
The company, which was not a part of NBCU or its parent company, General Electric Capital Corp., was set up in November 2005, along with bank accounts at a branch of Commerce Bank in Manhattan, according to the indictment.
Jung caused two wire transfers _ one for about $575,000 (euro443,057) this month and another for approximately $238,450 (euro183,734) last April _ to be deposited into the company's bank account from an account held by GE in Stamford, Connecticut, prosecutors said.
In a statement, NBC Universal said it was "committed to and vigilant about the enforcement of its compliance policies."