TAGS: vending fraud, Pepsi Bottling Group, Joseph Belasco, 65, Impact Cause Related Marketing, Culinary Ventures Vending, vending operation, New Jersey vending company, Pepsi Bottling Group
NEWARK, NJ -- The former principal of a New Jersey vending company has been sentenced to prison time for his role in a scheme that defrauded the Pepsi Bottling Group of $2.9 million over a 10-year period.
Joseph Belasco, 65, was sentenced on July 29 to serve six months in prison and six months of home confinement. He was also ordered to pay $1 million in restitution and must serve two years of supervised release after serving his prison term.
Belasco pleaded guilty last November in Newark federal court to charges that he conspired with two others to provide a false 2008 IRS 1099 form for consulting services that were never performed.
Belasco and a business associate allegedly created Impact Cause Related Marketing in 1998 as a subsidiary of Culinary Ventures Vending, a full-line vending company, to provide Pepsi Bottling Group with leads for acquiring new customers to purchase its packaged and fountain products. ICRM and Belasco would receive commissions as long as the client remained a Pepsi customer, along with quarterly rebates based on the amount of Pepsi product a customer purchased on an annual basis. | READ MORE
Pepsi Bottling Group is owned by Purchase, NY-based PepsiCo Inc.