A 61-year-old San Mateo man was convicted of several felonies for his role in an embezzlement scheme, local prosecutors said on May 14. The man reportedly collaborated with the manager of an upscale condominium complex in San Mateo to embezzle $2.8 million.
While the man owned Professional Painting Inc., he reportedly worked with the general manager of the complex to embezzle money from the property. When the manager was fired in September of 2013, 150 false invoices made out to Professional Painting were discovered next to the manager’s computer.
Prosecutors allege that no work was performed for most of the invoices, and the manager and the painting company owner divided the money between them. At trial, the man was found guilty by the jury of grand theft and embezzlement. Special enhancements on the convictions were also found due to the amount of stolen money and because the scheme was considered to be an aggravated white-collar offense. The former complex manager entered a plea of no contest in September of 2016 in exchange for receiving a capped sentence of no more than three years and four months of incarceration. The Professional Painting owner faces a sentence to prison of up to eight years and eight months.
White-collar crime may result in harsh penalties, including lengthy prison sentences, substantial fines and restitution. People who are being investigated for white-collar crimes might benefit by seeking help from experienced lawyers before they are indicted or charged. The attorneys might be able to negotiate with the prosecutors.