IbeFlyenhye
Active member
- Joined
- Mar 20, 2005
- Posts
- 30
More management shenanigans:
A former executive of Pinnacle Airlines pleaded guilty Monday to wire fraud after he stole about $1.1. million from the company, the U.S. Attorney’s office announced today.
Frank Richard Raasch, 38, a former resident of Lakeland, will be sentenced June 28. He faces up to 20 years imprisonment and a fine of up to $250,000.
Until he was fired last November, Raasch was director of information technology, major projects and transition at Pinnacle. He held a similar post at Mesaba Airlines, which Pinnacle bought in 2010.
According to the U.S. Attorney’s office, Raasch submitted fraudulent invoices in the name of a fictitious company from 2007 through last November.
Once the invoices were approved and Pinnacle issued checks, Raasch deposited them in bank accounts he controlled.
A former executive of Pinnacle Airlines pleaded guilty Monday to wire fraud after he stole about $1.1. million from the company, the U.S. Attorney’s office announced today.
Frank Richard Raasch, 38, a former resident of Lakeland, will be sentenced June 28. He faces up to 20 years imprisonment and a fine of up to $250,000.
Until he was fired last November, Raasch was director of information technology, major projects and transition at Pinnacle. He held a similar post at Mesaba Airlines, which Pinnacle bought in 2010.
According to the U.S. Attorney’s office, Raasch submitted fraudulent invoices in the name of a fictitious company from 2007 through last November.
Once the invoices were approved and Pinnacle issued checks, Raasch deposited them in bank accounts he controlled.
