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old XJ/9E IT Director stole $1.1 million

We're Saved!!! Based on the headline I was hoping it was Phil but no luck.

http://www.commercialappeal.com/news...ty-wire-fraud/

Former Pinnacle exec pleads guilty to wire fraud

A former executive of Pinnacle Airlines pleaded guilty Monday to wire fraud after he stole about $1.1. million from the company, the U.S. Attorney’s office announced today.

Frank Richard Raasch, 38, a former resident of Lakeland, will be sentenced June 28. He faces up to 20 years imprisonment and a fine of up to $250,000.

Until he was fired last November, Raasch was director of information technology, major projects and transition at Pinnacle. He held a similar post at Mesaba Airlines, which Pinnacle bought in 2010.

According to the U.S. Attorney’s office, Raasch submitted fraudulent invoices in the name of a fictitious company from 2007 through last November.

Once the invoices were approved and Pinnacle issued checks, Raasch deposited them in bank accounts he controlled.

So that's where our pay checks went .......

Wonder if he got his check on time?

Pinnacle Executive sentenced to 20 years

Former Pinnacle exec pleads guilty to wire fraud » The Commercial Appeal

Quote:

Former Pinnacle exec pleads guilty to wire fraud

By Jody Callahan
Memphis Commercial Appeal
Posted March 27, 2012 at 4:14 p.m.

A former executive of Pinnacle Airlines pleaded guilty Monday to wire fraud after he stole about $1.1. million from the company, the U.S. Attorney’s office announced today.
Frank Richard Raasch, 38, a former resident of Lakeland, will be sentenced June 28. He faces up to 20 years imprisonment and a fine of up to $250,000.
Until he was fired last November, Raasch was director of information technology, major projects and transition at Pinnacle. He held a similar post at Mesaba Airlines, which Pinnacle bought in 2010.
According to the U.S. Attorney’s office, Raasch submitted fraudulent invoices in the name of a fictitious company from 2007 through last November.
Once the invoices were approved and Pinnacle issued checks, Raasch deposited them in bank accounts he controlled.

HO-LEE-$H1T!!!!! DAYYUUUMMNNN

he has not been sentenced. It is he can be sentenced up to 20 years.

Quote:

Originally Posted by tom14cat14 (Post 1159054)

It is he can be sentenced up to 20 years.

But how many of those will he spend on reserve?

Quote:

Originally Posted by Boomer (Post 1159152)

But how many of those will he spend on reserve?

He'll be junior manned in the shower room.

Quote:

Originally Posted by Luv2Rotate (Post 1159153)

He'll be junior manned in the shower room.

He'll be the junior all right...maybe even the misses. :D

So let this be a lesson to all of you:

When you send fictitious invoices to a company whose finance (and payroll) department is dumb enough to pay any random bill that comes through.... Don't use the same fake name and bank account for four years! Change them every few weeks, and the schmucks will never know.

lol. I love all the funny posts above. It's like it's our defense mechanism in this sh tty industry. If you can't beat'em, just laugh it up.