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$8 Million Fraud: Former Premium Network Exec Charged
Grimy Times has learned that EMIL RENSING, former chief digital officer at a premium entertainment network, has been arrested and charged with $8 million fraud. Rensing, 42, of Manhattan, allegedly used companies he owned and controlled to defraud his former employer out of millions.
According to the United States Attorney for the Southern District of New York, Preet Bharara, Rensing hid behind false and stolen identities to conceal his scheme. He used fake names and e-mail addresses to deceive his former employer and submitted invoices for services never performed.
The FBI, led by Assistant Director-in-Charge Diego Rodriguez, uncovered Rensing’s alleged scheme. ‘Greed clouds people’s judgment,’ Rodriguez said. ‘Rensing’s actions were not a case of an employee keeping the change after getting coffee for the office. He’s accused of stealing $8 million from the company that hired him.’
Rensing allegedly caused his former employer to contract with companies he owned and controlled to perform digital media services. However, the promised services were never performed by the vendor personnel, who were unaware of the scam. Rensing concealed his scheme by using false and stolen identities.
After the Network learned of Rensing’s fraudulent scheme, he was interviewed by attorneys for the Network. During this interview, which was recorded at the request of Rensing and his counsel, Rensing lied to further conceal his fraudulent scheme.
Rensing faces one count of wire fraud, which carries a maximum sentence of 20 years in prison, and one count of aggravated identity theft, which carries a mandatory minimum sentence of two years in prison to run consecutively with any other term of imprisonment imposed. The maximum potential sentences in this case are prescribed by Congress.
Rensing was presented today in Manhattan federal court before Magistrate Judge Frank Maas. The case is a stark reminder of the devastating consequences of white-collar crimes and the importance of vigilance in protecting against such schemes.
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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