The executive vice president of the Children’s Hospital of Philadelphia pleaded guilty Wednesday to fraud, money laundering and other offenses stemming from his $1.7 million embezzlement over the last 12 years, according to the U.S. Department of Justice.
Authorities say that between 1999 and February 14, 2011, 46-year-old Roosevelt Hairston Jr. used dozens of fake invoices he created to steal from CHOP.
According to a press release, the former-VP used the funds he stole from the Children’s Hospital to live a lavish lifestyle – which included a home in Malvern, Pa. – the purchase of various other real estate, a yacht and high-end cars.
Hairston’s sentencing is set for October 13, 2011. He’s facing up to seven years in jail and up to a million dollars in fines
