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When You’re Treasurer, You Can Steal 800 G’s January 26, 2007

Posted by farshadf in NYC.

Calling Law & Order: Parent Company Embezzlement Team, because the former treasurer for NBC Universal was arrested yesterday. The feds say Victor Jung stole $800,0000 from his employer, using it on trips, a Hamptons summer home, and private planes. And how did he do this? He created a dummy corporation, NBCU Media Productions, and funneled the money in there.Jung spent $56,000 to rent a four-bedroom Sag Harbor home last summer and used $87,000 to pay off one month’s AmEx bill. And apparently $387,000 was spent on private jets to Miami, Antigua, and the Turks and Caicos. The Marquis jets offered shrimp cocktail, Veuve Cliquot, and Grey Goose vodka – yes, Marquis Jets, as in the company the second season Apprentice idiots had to create an ad campaign for! It is true NBC Universal synergy!

Jung, who worked at NBC for 12 years, had left in the past six months, though it’s unclear whether he was fired or resigned. He was arrested at his home on the Upper West Side, and his lawyer says he “plans to vigorously defend himself against these charges,” which should be interesting, because setting up a dummy corporation and booking jets isn’t very inconspicuous. And can we say that 30 Rock has gotten so much better?



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