This Just In.(former NBC Universal executive Victor Jung charged of embezzlement)(Jeffrey Bewkes and Edward Zander elected to Time Warner Inc.'s board of directors)(Smithsonian Networks' deo-on-demand networks)
Multichannel News, January, 2007
By Staff
Ex-NBCU Treasurer Indicted on Fraud Counts
Staff
New York - A former treasurer of NBC Universal was charged last Thursday by federal prosecutors on two counts of wire fraud after the executive allegedly embezzled more than $800,000 from the media giant to finance a summer home, trips to tropical locales and to pay off a large credit-card debt.
Victor Jung, who as treasurer of NBC Universal was responsible for collection efforts related to NBCU's business and for oversight of the company's bank accounts, allegedly set up a phony entity - NBCU Media Productions - in November 2005 in which to funnel money. Jung was also responsible for financial analyses and reporting to NBC Universal's parent, General Electric....
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