Former NBC Treasurer Arrested for Embezzlement

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The New York Sun

A former treasurer of NBC Universal was arrested yesterday on charges that he stole more than $800,000 from the television company to spend on himself, including champagne-fueled vacations to exotic destinations, federal prosecutors announced.

Victor Jung, 34, of Manhattan, was charged with two counts of wire fraud, accused of using some of the stolen money on private flights to Miami, Antigua and the Turks, and Caicos Islands, U.S. Attorney Michael Garcia said in a statement.

During the flights, Mr. Jung and his travel companions enjoyed delicacies including shrimp cocktail, Veuve Clicquot champagne, and Mondavi wine, the prosecutor said.

If convicted, Mr. Jung could face a maximum of 20 years in prison and a maximum fine of $250,000 or twice the gain resulting from the crime.

Through his lawyer, Christopher Brennan, Mr. Jung pleaded not guilty before U.S. Magistrate Judge Gabriel W. Gorenstein, who freed him on $250,000 bail.

Outside court, Mr. Brennan said his client looked forward to fighting the charges.

“He plans to vigorously defend himself,” Mr. Brennan said.

An indictment in U.S. District Court accuses Mr. Jung of stealing the money while he worked as the treasurer for NBC Universal in its offices at 30 Rockefeller Plaza in midtown Manhattan.

Mr. Jung, who was responsible for the company’s collection efforts and bank accounts, stole the money by setting up an unauthorized company, NBCU Media Productions LLC, and transferring money into its accounts, the indictment said.

In a statement, NBC Universal said it was “committed to and vigilant about the enforcement of its compliance policies.”


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