Generally this refers to a behavior exhibited by an influential person (management) contrary to what would be expected of someone in their position. These behaviors are strongly correlated with laziness.
An example of this behavior would be to visit a prostitute and charge it to the company on an expense report. Another example would be to spend an entire work-day on an instant messaging service speaking with various "singles" using quotes like "wanna cyber" and "I'm hot and wet with my door closed" while happily married.
My boss walked in while I was pulling a "Gerardo", he took one look at me and the computer screen and immediately called HR and security.