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Updated: 8:18 a.m. Tuesday, Jan. 31, 2006 | Posted: 10:09 p.m. Monday, Jan. 30, 2006
Centre County —
It sounds like a story straight out of a Hollywood script filled with money, deceit and corruption. But, it's not. As Walt Pavlo tells a group of students at Penn State it's his real life story of a good career gone bad. Pavlo, a former MCI executive, blames his downfall partly on corporate pressure at the company to produce. He was a successful senior executive with the company in 1996, responsible for $1 billion dollars in monthly revenue, when he and an associate came up with a scheme.
"I convinced a number of companies that were MCI customers to pay off-shore companies in the Cayman Islands instead of paying MCI for their debts and then diverting $6 million in cash to Grand Cayman Island banks," Pavlo said.
When the scheme was discovered in 2001 he plead guilty to wire fraud and money laundering and served two years in federal prison. Pavlo now tells his story frequently in hopes that the lessons he has learned will help students and others write better endings to their lives.
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