David Colletti, a former marketing executive for MillerCoors, has been indicted along with seven others on fraud charges, according to court documents filed on Tuesday, May 5.
Colletti and his accomplices are accused of forming a scheme to defraud MillerCoors of at least $7 million.
A federal grand jury has indicted the group for creating false invoices billed to MillerCoors for nonexistent promotional events.
Colletti, who was then in charge of the marketing and sale of beer to bars and restaurants, approved the false invoices, payable to a number of shell companies created by Colletti and his associates. MillerCoors paid more than $7 million to cover those events.
The defendants then spent that money on personal expenses, including vacations, collectible firearms, hunting trips, and investments in other businesses, according to the indictment.
In a statement, MillerCoors spokesperson Jonathan Stern said that the company is “satisfied that the U.S. Attorney's office completed its investigation and today filed charges against Dave Colletti and seven other co-conspirators. All along we've sought justice for the millions of dollars stolen from our company as these actions are intolerable and inexcusable.”