The former treasurer of NBC Universal (GE) was arrested by federal authorities on charges that he stole $800,000 from the company. The indictment was on two counts of wire fraud for Victor Jung of New York. He'll be arraigned today.
It was revealed in the indictment that Jung had created a company called NBCU Media Productions LLC, similar in name to a real NBC Universal subsidiary, NBC Media Productions. He allegedly had wire transfers of $575,000 and $238,450 sent to the accounts of the secret, fake company he created, from an account of General Electric the parent company of NBC Universal.
He evidently used the money to take luxury private jet trips and the rental of a summer home in the Hamptons, plus for personal items. The indictment, cited by the L.A. Times, added that "Jung and his fellow passengers on the flights enjoyed 'shrimp cocktail, Veuve Clicquot champagne, Grey Goose vodka and Mondavi wine.'"
"When we discovered the potential integrity breach," the company said in a statement, "we promptly brought it to the appropriate authorities and are 
cooperating fully with the investigation."
Federal authorities said that Jung was responsible for the oversight of the company's bank accounts, collections and providing reports and financial analyses to GE.
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