Ex Wurld Media CEO Gregory Kerber was sentenced to one to three years in a state correctional facility on Thursday, July 9, according to Saratoga County District Attorney James Murphy.
Kerber, 46, was convicted of stealing in excess of $32,000 from Wurld Media stockholders, investors, employees and shareholders by creating a sham corporation called Yagi Box Technologies, Inc. then withdrawing monies from or cashing checks made payable to Wurld Media and depositing in Yagi Box Technologies. He then utilized those monies for various personal expenses such as attorney's fees, food and car repairs for his wife as well as various checks written to himself and other family members.
Wurld Media was an Internet sart-up company based in Saratoga Springs.
Kerber committed the crime while under indictment for the crime of falsifying business records in the first degree, to which he ultimately pleaded guilty and received a sentence of five years of probationary supervision.
The defense argued that Kerber should have received more time on probation, since he didn't know he was committing a crime, said Murphy.
"Judge Scarano's sentencing sends a message of deterrence that corporate greed will be punished. Shareholders and investors will be protected when someone steals life savings and investments. Many people's lives were unalterably shaken by Kerber's selfishness and prison is the only appropriate penalty. This is the second felony conviction of Mr. Kerber and there appears to be no remorse or realization that what he did was wrong," said Murphy in a statement.""