Apparently, crime does not pay. Just ask former QVC manager Douglas Rae.
We wrote about this case previously, but the other shoe dropped. Rae faces up to 130 years in prison after pleading guilty to wire fraud, mail fraud and money laundering for defrauding QVC, U.S. Attorney Zane David Memeger in Philly announced earlier this week.
“Rae, while employed as a manager in the Lighting Department at QVC, concocted multiple schemes to falsely invoice his employer of approximately $1.8 million,” according to the press release.
In addition to facing more than a century in prison, Rae may be fined $1.75 million, undergo supervised release and have to a pay a $700 special assessment for good measure.
The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Denise S. Wolf
Here is a more detailed account.
Between November 2006 and May 2013, Rae submitted false invoices to QVC from two lighting companies that he controlled, Lighting Equipment Sales and Services and Lighting Product International, without ever providing any goods.
His co-defendants, John Hodde, 54, of Aubrey, Texas, and Michael Keppler, 56, of Ridgewood, N.J., have already pleaded guilty to charges stemming from the case.