PHILADELPHIA- Douglas Rae, 59, plead guilty today to wire fraud, mail fraud and money laundering for defrauding his employer, QVC, a television based retail company, announced United States Attorney Zane David Memeger.
Rae, while employed as a manager in the Lighting Department at QVC, concocted multiple schemes to falsely invoice his employer of approximately $1.8 million.
Rae faces a statutory maximum of 130 years’ imprisonment, a fine of $1.75 million, supervised release and a $700 special assessment. The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Denise S. Wolf
Source: U.S. Department of Justice, Office of the United States Attorneys
