Former A&P Executive Pleads Guilty to Wire Fraud
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iStock/Thinkstock(NEW YORK) — The former Senior Vice President of Marketing at A&P, John Moritz, admitted to his involvement in a scheme that defrauded the supermarket chain on Tuesday, saying he sold event tickets meant for the company’s use for personal gain.
Mortiz pleaded guilty to one count of wire fraud in front of a U.S. district court judge on Tuesday. He worked for A&P between December 2010 and December 2011. During that time, he arranged for the company’s purchase of thousands of tickets to events that were supposed to be used to reward high-performing employees. Instead, Moritz said, he sold them for a personal profit of $1,218,192.
In total, Moritz admitted to selling over 7,000 tickets over the Internet while keeping the company in the dark. Moritz sold tickets for events including the 2011 Super Bowl, the 2011 Major League Baseball playoffs and Bon Jovi, Lady Gaga and U2 concerts.
Moritz is scheduled to be sentenced on July 9 and faces up to 20 years in prison and a $250,000 fine.
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