26Sep

Ex-City Employee Engineers $534K Embezzlement

Faces Over 13 Years in Prison if Convicted

A former City of Santa Clarita, CA assistant engineer has been arrested for allegedly embezzling over $500K in “cash in lieu of bonds” refunds that were supposed to go city contractors. Setting up phony vendor names that resembled the actual vendor names and then issuing checks to the phony companies, he deposited checks into bank accounts he controlled.

Thankfully, the city has a crime insurance policy with a $1 million limit and hopes to recover the embezzled funds.

An audit revealed the crime and also recommended revisions to the refund program which the city is implementing.  If convicted, the alleged perpetrator could be sentenced up to 13 years and eight months in California state prison.

Read the full story here.

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