Ex-MillerCoors vice president sentenced to prison over fraud charges

By NewsFOXBusiness

The former vice president of MillerCoors was sentenced to 42 months in prison Thursday, May 16, 2019, for defrauding the brewer of millions of dollars during a decade-long scam. (AP)

A former vice president of MillerCoors was sentenced to 42 months in prison Thursday for defrauding the brewing giant of millions of dollars during a decade-long scam.

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David Colletti, 60, had pleaded guilty to wire fraud in 2016 but didn't learn his fate until Thursday morning. U.S. District Judge Jorge Alonso delayed sentencing Colletti until seven others involved in the fraud had their day in court.

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Colletti worked with the others to submit false invoices that billed for fictitious promotional and marketing events, prosecutors alleged. The alleged scheme defrauded the Chicago-based brewer of more than $8.6 million and occurred between 2003 and 2013, the Chicago Sun-Times reported.

Before he was sentenced, Assistant U.S. Attorney Jennie Levin said Colletti owned up to his crime by bringing it to the attention of federal prosecutors. However, she called his fraud “the ultimate betrayal” and had requested he serve a 64-month sentence.

Colletti apologized for his actions and explained he wanted to keep up with “the rat race.”

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“My life is changed,” Colletti said. “It’s changed forever.”

Colletti worked his way up at the company before becoming vice president.

The Associated Press contributed to this report.