A former Coca-Cola executive was sentenced Monday to 27 months in prison on charges he took more than $400,000 from the Atlanta beverage giant for personal use, including alimony and rent payments.
Jeffrey David Shamp, who worked for Coca-Cola between July 2002 and November 2011, pleaded guilty to one count of wire fraud Feb. 27 and will pay $411,550 in restitution to Coke in addition to the jail time.
Shamp, who had most recently worked as a senior national account executive based in Massachusetts, was accused of using corporate American Express gift checks to pay more than $400,000 in personal expenses — including gifts to friends and relatives — between November 2005 and September 2011.
The 40-year-old Cincinnati man was authorized to use the checks as part of a sales incentive program for Coca-Cola customers.
“Corporate employees who steal hurt their employer, fellow colleagues, their customers, and the community,” U.S. Attorney Sally Quillian Yates said in a statement. “By putting his personal gain above all else, Shamp has earned this time in federal prison.”
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