US authorities arrest former NBC Universal officer

NEW YORK, Jan 25 (Reuters) U.S authorities arrested a former treasurer of media conglomerate NBC Universal on charges of stealing more than 800,000 dollar to finance private jet flights, expensive liquor and a vacation home, according to a U.S. attorney's statement today.

Victor Jung, 34, the former treasurer, is charged in the indictment with two counts of wire fraud and could face a maximum jail sentence of 20 years and a fine of 250,000 dollar, according to the statement from the office of the U.S. Attorney for the Southern District of New York.

''When we discovered the potential integrity breach, we promptly brought it to the appropriate authorities and are cooperating fully with the investigation,'' NBC Universal said in a statement. ''We will continue to monitor the situation to its resolution.'' A company spokeswoman declined to say when the company discovered the situation.

The U.S. Attorney's office said Jung is alleged to have transferred cash from General Electric Co. accounts into accounts held by a fake company, NBCU Media Productions LLC.

NBC Universal is 80 percent owned by diversified blue-chip GE and 20 percent by France's Vivendi Universal.

Jung used the funds for personal benefit, authorities said, including flights on private jets to Miami, Antigua and the Caicos Islands, as well as to rent a home in the Hamptons.

On these flights, Jung and companions ''consumed catered Veuve Cliquot champagne, Grey Goose vodka, Mondavi wine, and shrimp cocktail,'' according to the statement.

At NBC Universal, Jung was responsible for collection, oversight of the company's bank accounts, and financial analysis, according to authorities.

REUTERS PDS RN0314