MillerCoors Fraud: Embezzlement by Executives Colluding With Vendors

millercoors-fraudLast week MillerCoors filed suit against 14 individuals and 15 companies, alleging over $10 million was stolen from the company. The claims include civil theft, fraud, breach of fiduciary duty, unjust enrichment, civil conspiracy and racketeering. Former MillerCoors executives David Colletti (vice president of on-premise marketing) and Paul Edwards (director of on-premise channel marketing) are accused of masterminding the fraud for a period of at least 13 years.

The alleged fraud is a billing scheme, in which the company made fraudulent disbursements. One component of the fraud was a shell company scheme.  The lawsuit claims that David Colletti and Pamela Colletti created a fake company which billed MillerCoors for goods and services never provided. The other component was an overbilling scheme, in which legitimate companies billed MillerCoors for goods and services not received. The participants in the schemes allegedly shared the funds paid by MillerCoors.

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