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NEW YORK Joe Panaccione, a former vice president, manager of graphic services at Grey Global Group, was sentenced today to three years’ probation and a $366,675 fine for inflating clients’ printing bills in order to fund a kickback scheme.
The bid rigging, bill inflation, bribery and conspiracy between the bosses of Grey’s print production department and executives of print supplier The Color Wheel in New York existed from 1991 to 2000.
It ended with the arrest and conviction of several print managers at Grey and Color Wheel, who doled out favors, show tickets, print jobs and envelopes containing American Express gift certificates to dozens of management executives, creative staffers and various print productions workers at Grey.
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