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Man admits defrauding $390,000 from employer

Jul 03, 2008 @ 07:10 PM

By The Associated Press

The Associated Press

CHARLESTON, W.Va. (AP) _ A former employee of NGK Sparkplugs USA faces 20 years in prison after admitting that he used a scrap metal scam to fraudulently obtain more than $390,000 from the company.

Samuel Olivio pleaded guilty Thursday to mail fraud in U.S. District Court in Charleston.

U.S. Attorney Charles Miller's office says Olivio admitted to stealing scrap parts containing platinum from Sissonville-based NGK and selling them to other companies that extracted the metal. The 38-year-old former Elkview resident also admitted that he charged to NGK the $19,000 cost of shipping the parts to the other companies.

Sentencing is set for Oct. 8.