A Long Beach father and daughter face embezzlement charges for allegedly taking investor funds. The scam targeted injured workers who received workers’ compensation payments in what is known as a workers’ compensation set-aside arrangement. In those cases, workers receive insurance payments to cover future healthcare needs. Then they invest the payments to ensure continuous care.
The father operated a financial services firm in Long Beach and accepted insurance payouts for investment. Instead of investing the funds, the man redirected them to his personal accounts. He also directed funds to his daughter. They used the funds to open and operate a cigar store in Naples.
According to investigators, the pair embezzled nearly $275,000 from injured workers who had received insurance settlements. They caught the attention of investigators in late 2014, after interest payments to the investors began to bounce.
The father-daughter duo face two counts each of felony grand theft by embezzlement and 15 counts each of money laundering. If convicted on all charges, they face a maximum sentence of more than 16 years in state prison.
Long Beach Embezzlement lawyer
In most cases, an embezzlement victim wants his or her stolen funds returned. Often, the funds represent a lifetime of savings, or money that they specifically intend to use for another purpose. Embezzlement is a devastating crime, both for the victim and the perpetrator. Careless sentencing can also ensure that the victim never receives full restitution. That’s why you need an experienced embezzlement lawyer like Robert Helfend if you’re facing charges.
Embezzlement is an aggravating crime and the desire for justice is strong – especially in cases that involve vulnerable victims. Giving a perpetrator a lengthy sentence, however, virtually ensures that the victim will never be made whole. While the perpetrator sits in prison, he or she cannot or make restitution payments. The longer the sentence is, the longer the victim must wait for justice. Often a better solution allows the perpetrator to make restitution payments as quickly as possible.
obert Helfend has nearly 35 years of experience in criminal defense in Southern California courtrooms. He always works toward the best possible solution for all parties. Don’t risk your freedom on an inexperienced criminal defense attorney.
Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County embezzlement case.
Photo Credit: Adrian Scottow, via Flickr.com