Wednesday November 6,2013 : FORMER BODOG MANAGER CHARGED WITH FURTHER OFFENCES (Update)
Philippines authorities add expense account fraud charges.
Former Bodog exec Robert Gustafsson's troubles increased further Tuesday with the news that Philippines enforcement officials have added further charges to those he already faces of high-value criminal activity.
Global Internal Audit (Asset Management Group) auditors have apparently uncovered further irregularities involving Gustafsson, former CFO Arleen Aldaba, Sherwin Quiambao and Sylvia De Guzman.
The current charges include "qualified theft" and involve allegations of high value irregular use of a corporate credit card and subsequent fraudulent administrative activity.
A source told the information site that Gustafsson would “…pay for personal expenditures on his corporate credit card that was already being paid for by the company and then he would submit the same receipts to Aldaba, who in turn approved payments to Gustafsson.
“Quiambao and De Guzman would then issue company checks to Gustafsson for expenditures that were already paid for.”
The high value and number of charges being laid against the group could have serious punitive consequences that may include heavy jail sentences.