A Los Angeles parking lot operator faces federal fraud charges. Federal authorities arrested the man last week, claiming that he had kept two sets of books for 15 years.
The man operated parking lots for the US Department of Veterans Affairs in Los Angeles. According to federal investigators, the man skimmed profits from the lots, and cheated the VA out of $11 million. Prosecutors say that the man both under reported income from the lots and overstated his expenses.
According to the indictment, the man used the proceeds to buy three luxury Santa Monica condominiums, a boat and collectible cars. The man will be in federal court on November 30 to enter a plea. In the meantime, federal investigators are attempting to seize the man’s assets.
Prosecutors say that in addition to withholding money, the man also bribed a VA official in 2003, when the agency awarded him the contracts. The former VA official, who retired in 2014, is cooperating with federal investigators.
The lots in question are located in West Los Angeles. The operator collected additional revenue from sporting events, including UCLA basketball games, which the government says the man did not report as income.
Los Angeles fraud attorney
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Photo Credit: Brian Wallace, via Flickr.com