Ex-Glock Exec Found Guilty On Racketeering Charges
MARIETTA, Ga. (AP) — A former executive for Glock Inc. was convicted Friday of stealing a pistol from the gun manufacturing giant and stealing millions of dollars from his employer with the help of a colleague.
Jannuzzo was convicted of theft and racketeering charges after a two-week trial, according to The Atlanta Journal-Constitution (http://bit.ly/yobggB). He could face up to 30 years in prison.
Prosecutors said Jannuzzo and Peter Manown, who was Glock's former vice president, used complicated schemes to steal from the Austria-based manufacturer. They were accused of using cloned bank accounts, fabricating loan documents and forging founder Gaston Glock's signature to pilfer the money.
In all, the two men stole more than $5 million, according to court documents.
Manown confessed to Gaston Glock nine years ago that he and Jannuzzo stole the money, and since then he was sentenced to 10 years in probation in exchange for pleaded guilty to three counts of theft. He testified against Jannuzzo at the trial, saying they skimmed the funds through fees they earned on business transactions.
A former New Jersey prosecutor, Jannuzzo was hired by Glock in 1991 to be the company's general counsel, and he soon became one of the top officers for the company's U.S. headquarters, located on Atlanta's western outskirts in Smyrna.
Manown told investigators they soon began working together to plunder the company, but that by 2003 he started feeling guilty about the theft and that he decided to confess to Glock. His attorney Bruce Morris said his client repaid more than $1 million to cover part of what he stole.
Cobb County prosecutors didn't charge either of the men with any wrongdoing until Glock turned over the details of its internal investigation to local authorities in 2007. Soon after, Manown pleaded guilty to the theft counts and agreed to be interviewed by a prosecutor and a Glock attorney.
About a year later, Jannuzzo was charged with stealing money by forging Gaston Glock's signature, fabricating loan documents and pilfering corporate funds. Prosecutors said he funneled the money through an elaborate network of foreign bank accounts and company holdings.
He was also charged with stealing a custom-made gun from the company that was later discovered at his condo by police.
Jannuzzo was initially set to go to trial in October 2009 but fled to Mexico, according to court records, and didn't return until federal agents tracked him down in Amsterdam. He was extradited to the U.S. in May, and he's been in state custody since.