Cruise Bruise

Peter Valiando
Paul Gauguin Shipping CEO Fraud

$2,400,000 Missing From Cruise Line Accounts

Cruise Ship Overboards Suicides
Cruise Ship Deaths Murders
Missing Passengers Crew
Cruise Ship Listing Sinking
Cruise Groundings Collisions
Cruise Fires Explosions Pirates

 

 

 

Peter Valiando
Paul Gauguin Shipping CEO Fraud

$2,400,000 Missing From Cruise Line Accounts

Peter Valiano, 53, former Paul Gauguin Shipping cruise line CEO, pled guilty before Chief Judge Mark L. Wolf in United States District Court to a one-count information charging him with wire fraud.

At today’s plea hearing, the prosecutor told the court that, had the case proceeded to trial, the government’s evidence would have proven that beginning in March 2007, Peter Valiano, who at the time was acting as the chief operating officer of Paul Gauguin Shipping Limited, set up secret bank accounts which were opened in names nearly identical to Paul Gauguin Shipping Limited.

At that time, the company operated the Tahitian cruise ship The Paul Gauguin. After setting up the secret bank accounts, Peter Valiano diverted payments from third parties intended for Paul Gauguin Shipping Limited into those secret accounts and took the money for his personal use. From 2007 to 2009, VALIANDO fraudulently diverted wire transfers totaling more than $2.4 million.


Chief Judge Wolf scheduled sentencing for March 9, 2011. Peter Valiano faced up 20 years' imprisonment, to be followed by three years of supervised release and a $4.8 million fine.

Peter Valiando was sentenced on April 14, 2011 to 41 months in prison to begin June 6, 2011, three years supervised parole, a fine of $100,000 and restitution of $2,352,683.05

He was released on June 28, 2013, having only served two year of his sentence.


Supporting Information & Resources:
Featured or New CBI Crime


Related Cruise Bruise Investigations

Suggested Reading