The World: Los Angeles - Jury convicts ad execs of £31m client fraud

A federal jury has convicted two former advertising executives of stealing more than £31 million from clients.

Thomas Rubin, the former chairman and chief executive of the Santa Monica-based agency Focus Media, and its ex-chief financial officer, Thomas Sullivan, have been charged with 25 and 27 felony counts respectively.

These include mail fraud, money laundering, wire fraud and bankruptcy fraud and could lead to the men facing jail terms of more than 100 years.

During the space of a year, the pair collected more than $41 million from clients such as Universal Studios, ABC and NBC but only paid out $10 million to media outlets.

The two men are scheduled for sentencing on 23 October.

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