Today, he accepted a plea deal for embezzling $8.6 million from his employer MillerCoors. In exchange for pleading guilty, his prison sentence could be downsized to half what it would have been: 10 years. He will also cooperate with authorities in providing information about the seven vendors who assisted with the scam.
The game was to create make-believe promotional events or over-bill the real ones. With the help of the vendors the cash would flow into his pocket.
When the con was discovered, Colletti was fired in 2013. That was after 31 years with the company.
But his legal problems aren't over. MillerCoors has filed a civil case against him in Milwaukee County Circuit Court.
Knowing human nature, we probably all have a hunch that Colletti could use a tall one. He must regret being so naïve and/or arrogant to assume his actions could bypass all the checks and balances in corporate accounting.