Ex-Coca-Cola exec accused of fraud, money laundering

A former Coca-Cola executive was arraigned Monday on fraud and money laundering charges, the U.S. Attorney’s office said.

Jeffrey David Shamp, who was indicted by a federal grand jury Oct. 15, is accused of using corporate American Express gift checks to pay more than $400,000 in personal expenses between November 2005 and September 2011, according to U.S. Attorney’s office in Atlanta. Shamp, 40, was authorized to use the checks as part of a sales incentive program for Coca-Cola customers.

Shamp worked for the beverage giant between July 2002 and November 2011, most recently as a senior national account executive in Massachusetts, the Attorney’s office said.

“Mr. Shamp used deceit and fraud, in the misuse of a marketing tool intended to promote the good name of Coca-Cola, for his own personal benefit,” Veronica F. Hyman-Pillot, Special Agent in Charge, IRS-Criminal Investigation, said in a statement. “IRS-CI is committed to unraveling financial transactions and money laundering schemes where individuals attempt to conceal the true source of their money.”

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