Former Global VR CTO Sentenced to Two Years in Prison

January 22, 2014 - GamePolitics Staff

According to a report in the San Francisco Gate, a former video game executive has been sentenced to two years in prison and a fine of $5,000 for secretly copying and selling games for his own profit.

The 48-year-old man named David Foley pled guilty in January 2012 to conspiracy to defraud the company, Global VR of San Jose, and a bank.

Foley owned another San Jose company called UltraCade Technologies, which produced game packs that could be loaded onto arcade machines. In 2006, he sold UltraCade to Global VR, and took a job as the company's chief technology officer.

According to prosecutors, Foley copied software, manufactured game packs at home and sold them to another company to be marketed under the UltraCade name. He also admitted to defrauding a home lender out of nearly $3 million by claiming he was still employed by Global VR, who fired him after learning of his fraud, prosecutors said.

Source: San Francisco Gate


Comments

Re: Former Global VR CTO Sentenced to Two Years in Prison

"...and a bank." - Banks to the defrauding, pal. You were working the wrong side of the fence. If you became a banker you'd not have to worry about this.

 
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