Man pleads to steal­ing $1.8M from QVC

Daily Local News (West Chester, PA) - - BUSINESS -

PHILADEL­PHIA » A Penn­syl­va­nia man who spent sev­eral years as the light­ing man­ager for on­line and TV shop­ping net­work QVC Inc. has pleaded guilty to steal­ing about $1.8 mil­lion from the com­pany.

Dou­glas Rae, 59, of Beth­le­hem, pleaded guilty to steal­ing from the West Goshen-based QVC by sub­mit­ting bo­gus in­voices from two light­ing com­pa­nies he con­trolled from 2006 to 2013.

Rae also ac­knowl­edged fun­nel­ing other phony in­voices to QVC through two other peo­ple who al­ready have pleaded guilty: John Hodde, 54, of Aubrey, Texas, and Michael Kep­pler, 56, of Ridge­wood, New Jer­sey.

Hodde and Kep­pler also were QVC ven­dors who will be sen­tenced next month on wire fraud

charges for work­ing with Rae to sup­ply other in­voices for phony pur­chases that QVC paid. Rae split the money with those men, who were pre­pared to tes­tify against him be­fore he de­cided to plead guilty Mon­day in­stead of go­ing to trial.

Rae used some of the money to buy jew­elry and yacht and golf club mem­ber­ships. He rang up $83,000 in restau­rant tabs and other lav­ish spend­ing, in­clud­ing va­ca­tion homes in the Po­cono Moun­tains and Hil­ton Head, South Carolina, fed­eral pros­e­cu­tors in Philadel­phia said.

“It was the right de­ci­sion

for Mr. Rae to take a plea,” at­tor­ney John Waldron said of his client, not­ing the ev­i­dence against him was over­whelm­ing. “If he went to trial and was con­victed, the amount of years he was fac­ing was stag­ger­ing com­pared to what ul­ti­mately can be worked out if he en­ters a plea and ac­cepts re­spon­si­bil­ity.”

Rae pleaded guilty to sev­eral charges, in­clud­ing fraud and money laun­der­ing, which carry a max­i­mum com­bined sen­tence of 130 years in pri­son and fines up to $1.75 mil­lion.

The ac­tual sen­tence will be driven by guide­lines that take into ac­count his crim­i­nal his­tory, if any, the amount of money stolen and other fac­tors to be de­ter­mined by a pre-sen­tence in­ves­ti­ga­tion.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.