US: MillerCoors accuses ex-employees of embezzling "millions"
MillerCoors said the allegations are based on an internal inquiry
MillerCoors has claimed that two former sales employees embezzled “several million dollars” from the company.
The US brewer, a JV between SABMiller and Molson Coors, has alleged that former employee David Colletti embezzled money over “several years” and that Paul Edwards, also an ex-employee, was involved to a “lesser extent in the scheme”. In a statement to just-drinks today (4 April), MillersCoors said the allegations are based on an “extensive internal and external investigation”.
Both men worked in a unit that sells beer to restaurants and chain bars, according to Bloomberg.
In an internal statement, obtained by FOX6 News, the company added: "It also appears that the embezzlement scheme involved the participation of certain former vendors who assisted in the theft of company funds.
"This crime exploited some gaps in our vendor approval process that have since been addressed."
The company said it has referred Colletti and Edwards to federal authorities for criminal prosecution. “We are disappointed by this betrayal of pride and integrity by two long-time employees of the company,” a MillerCoors spokesperson said.
“MillerCoors is seeking to recover the stolen funds from a combination of insurance and restitution in the criminal process."
The spokesperson said he was unable to provide contact details for the two former employees.
- Five ways small brands can beat big players
- Will Coca-Cola Co’s Dunkin’ Donuts move pay off?
- Heineken's Q3 2016 results - Preview
- Interview, Bulldog Gin CEO Anshuman Vohra, Pt II
- Ten ways to successfully target older consumers
- Diageo weathers Thailand alcohol ban
- SWA's David Frost to leave for foreign office role
- Stock Spirits appointments provoke investor unrest
- Heineken's YTD performance by region - Focus
- Seedlip eyes global growth with export deal
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global RTD insights - market forecasts, product innovation and consumer trends