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Former NBCU Treasurer Arrested

Jan 25, 2007  •  Post A Comment

Former NBC Universal Treasurer Victor Jung has been arrested and charged with stealing more than $800,000 from his former employer.

The U.S. Attorney’s office for the Southern District of New York announced details of the arrest on Thursday.

The two-count indictment alleges Mr. Jung, 34, created a phony account named much like a real NBCU company and used it to receive wire transfers of money in January and April 2006. He is accused of using the money on such personal things as private jet flights to warm-weather destinations and lavish dining in flight, as well as a summer rental in the Hamptons and payment on his American Express card.

Mr. Jung was to be arraigned in New York Thursday afternoon.

If convicted, he faces a maximum sentence of 20 years in prison and a fine of $250,000 or twice the gross gain or loss resulting from the offense.

“NBC Universal is committed to and vigilant about the enforcement of its compliance policies. When we discovered the potential integrity breach, we promptly brought it to the appropriate authorities and are cooperating fully with the investigation. We will continue to monitor the situation to its resolution,” read a statement released Thursday afternoon.

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