Interpublic Unit Ex-COO Pleads Guilty to Embezzling $16 Million

Frank Okunak, a former executive at global public relations firm Weber Shandwick, part of the Interpublic Group of Companies, has pleaded guilty to embezzling more than $16 million, according to the US Department of Justice.

The government says Okunak used his positions, first as chief financial officer and then as global CFO and chief operating officer, to create documentation to make the payments look legitimate. But he used the funds “to provide the start-up capital for his personal, independent business ventures, to purchase tickets and luxury boxes at sporting events, and even to cover donations to his alma mater,” ...