After my previous post where I discussed the psychological effects of being let go from my previous company, this came as very welcome news.
I didn't hear about all the nasty/juicy stuff that went on there until after I left. And I won't speak to anything that remains office gossip and unsubstantiated rumor (and there's a lot of it!), but this is a matter of public record now, and it kinda made my day. Call me a schadenfreude junkie, but I love it when folks who think they doodoo don't stank get their comeuppance!! Here's the link to the original article posted below.
Updated: Sat., Sep. 4, 2010, 2:51 AM
Exec's 'free' acce$$
By DAREH GREGORIAN
Last Updated: 2:51 AM, September 4, 2010
Posted: 2:51 AM, September 4, 2010
The multimillionaire former CEO of a health-care consulting firm prescribed himself millions in personal expenses from the company -- making it pay for private jets, his boats, family vacations and even downloads from iTunes, court papers charge.
In a lawsuit filed in Manhattan Supreme Court, Access Communications LLC says Michael Mitrow Jr. raked in $24.7 million in 2007 alone, but that didn't stop him from charging the company he founded for expenses big and small, and "on an extraordinary scale."
"During just the period between May 2007 through June 2009 when Mitrow was forced to resign from Access, he incurred over $1.2 million in personal expenses on his [corporate] American Express card for which there was no legitimate business justification," the suit says.
That included "exorbitant dining expenses," such as a $5,918.38 family Christmas Eve dinner at Zach's Cabin in Beaver Creek, Colo. -- 60 percent tip included. There also were two separate $18,000 family vacations at Westin hotels, charges relating to Mitrow's boats, and $3,971 in furnishings for his condo in Vail.
Mitrow also had a taste for fine luggage -- he spent $4,419 of the company's cash on Luis Vuitton goods at Neiman Marcus, and thousands more on "Prada merchandise," the suit says.
The exec also used company cash for smaller items -- charging Access for Sirius Radio, goods at grocery and liquor stores, and even his video game and iTunes purchases, the suit says.
He also was quite generous with the company's money, and opened sub-credit card accounts for three workers on his boats.
All of the charges, including his repeated use of personal jets, were covered up as legit business expenses, the suit said.
Mitrow's lawyer, Peter Ginsberg, said they'd be challenging Access' claims in court.
Mitrow, he said, "followed the policies and procedures of the company, and his expenses were reviewed and approved by Access officials who remain at the company."
dareh.gregorian@nypost.com
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