Employee Sued For Alleged Theft Of $7.7M In Stock

Law360, New York (May 3, 2007, 12:00 AM EDT) -- Network engineering company Wireless Facilities Inc. has sued a former employee after discovering that he and his wife stole over $7 million worth of WFI stock options and common stock.

The alleged thefts, which took place between 2002 and 2003, were discovered when the company reviewed its past stock option granting practices, WFI said.

Vencent Donlan, a stock options administrator at WFI until 2004, fraudulently issued more than 700,000 shares of company stock and options to accounts held by himself and his wife, the suit said....
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