A Long Beach man will spend 10 years in prison for embezzlement. The man had provided financial investment and insurance services for people who had received insurance settlements following work-related accidents. He pleaded no contest in May to 25 felony counts, including money laundering and grand theft by embezzlement.
California Department of Insurance investigators received a complaint from two investors in December 2014 after an interest payment check bounced. The couple had invested nearly $275,000 with the man. They had received the money as part of a settlement after a work-related traffic accident. The man had suggested that they allow him to invest their funds as part of a “set aside” arrangement. The law requires this kind of arrangement to provide funds for ongoing medical care.
Initially, authorities charged the man with the theft from the couple. Over time, however, they discovered at least 10 other victims who similarly lost money. Based on records, investigators believe the man misdirected $1M to his own accounts. He used some of the money to open a cigar store. Initially, the man’s daughter also faced charges in the theft. Prosecutors dropped the charges against her earlier this year.
Long Beach Embezzlement Attorney
When you face charges for work-related theft, hire an experienced embezzlement attorney like Robert Helfend. Mr. Helfend has 35 years of experience in criminal defense. He takes embezzlement and grand theft cases in Los Angeles County and throughout Southern California.
Mr. Helfend manages every case personally, so he will work tirelessly to get charges against you reduced or dropped. When that’s not possible, he will work toward the best possible resolution for your case.
Some defendants want to enter a plea agreement. If that describes your situation, Mr. Helfend will work hard to achieve a positive resolution for all involved. In most cases that involve monetary theft, short sentences best serve the victims’ interests. That’s because long prison terms tend to frustrate or obstruct restitution. While victims always want justice, they’re primarily interested in the return of their money. Mr. Helfend will work hard to minimize or eliminate incarceration, allowing you to focus on restitution. This can also help you rebuild your own life following a conviction.
Don’t rely on an inexperienced attorney and don’t assume that a long prison term awaits. 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: 401(k) 2012, via Flickr.com