WHITE PLAINS - Joseph Juliano voluntarily surrendered and was arraigned in White Plains federal court on a two-count Indictment charging him with embezzling more than $600,000 from his former employer, Pepsi Cola North America ("PepsiCo").

Juliano, whose last position at PepsiCo was Vice President, Entertainment Channel, was authorized to use PepsiCo funds to purchase travel, entertainment, meals, and lodging, for example, airplane tickets and tickets to sporting events, as long as the purchases were made in connection with his efforts to entertain PepsiCo customers. For eight years, from approximately January 1996 through November 2004, Juliano and two co-conspirators arranged for purported businesses in Pittsburgh, Pennsylvania -- operating under various names, to send to Juliano's office at PepsiCo phoney invoices for tickets to major sporting events, that had supposedly been booked for Juliano and others.

As a result of this conspiracy, Juliano and his co-conspirators allegedly stole more than $600,000.

Juliano, 59, of Woodmere, New York, was released on a $250,000 personal recognizance bond cosigned by two financially responsible persons. If convicted, Juliano faces a maximum term of 20 years in prison for each of the two counts. He also faces a fine of up to $250,000 or twice the gross gain or loss resulting from the crimes on each count, an order of restitution in the amount of $641,450 and forfeiture of ill-gotten gains.