We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
78,821 News Articles

Former Flextronics worker guilty of $1.3M theft

A former employee of Solectron, now Flextronics International, gets jail time for embezzling at least $1.3 million.

A former employee of Flextronics, an electronics manufacturer, was found guilty of stealing at least $1.3 million in company funds and received a prison sentence, California's attorney general said on Monday.

Richard Schwalbe was convicted on two counts of grand theft for diverting money owed to his employer into personal accounts. He worked at the time as a credit manager for Selectron, an electronics manufacturer that was acquired by Flextronics in 2007.

Flextronics, a major producer of electronics and other products based in Singapore, has partnered with brand names such as Apple, Microsoft, HP and Lego and has over 200,000 employees globally. In an unrelated case last year, a senior business development executive at the company was charged and arrested by the FBI for selling confidential sales forecast data and iPhone product information to a market research company.

In the more recent case, the California Attorney General said in a statement that Schwalbe was sentenced to two years and eight months in prison. He was first arrested on Jan. 26 last year, and pleaded no contest to the charges on June 24 of this year.

An investigation found that Schwalbe used his position at Solectron to personally collect over $800,000 owed to the company, then renegotiated separate debts owed by another company to have them paid into an account he controlled.


IDG UK Sites

Chromecast deals aplenty as gadget turns one: Discounts and free music streaming

IDG UK Sites

Apple updates MacBook Pro line-up: Price cuts & spec boosts for 6 MacBook Pro models

IDG UK Sites

Introducing generation tech

IDG UK Sites

5 ways drones are being used for good