Crime & Safety
Trabuco Canyon Man Admits to Embezzling $2M-Plus from Private School
While the Pegasus School's business manager, Ricardo Nieva cashed 256 checks payable to himself that amounted to a total of $2,093,667.84.
A 49-year-old Trabuco Canyon man agreed to plead guilty to embezzling more than $2 million from a private elementary school in Huntington Beach, where he served as the business manager, the U.S. Attorney’s Office announced today.
Ricardo Nieva, who was arraigned today on two counts of wire fraud, signed an agreement with federal prosecutors on Aug. 17 to enter a guilty plea at a later date. Later this month, U.S. District Judge Dean Pregerson is expected to set a hearing for that purpose.
Nieva was the Pegasus School’s business manager from 1995 through last September. From about December 2006 to May of last year, he cashed 256 checks payable to himself that amounted to a total of $2,093,667.84, according to his plea agreement.
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Nieva tried to cover his tracks by altering bank statements and doctoring other records, and used his ill-gotten gains, in part, on private school tuition for his children and family vacations to Las Vegas, Jackson Hole in Wyoming, Charleston, South Carolina, Hawaii and Europe, according to the agreement.
He also spent some of the stolen money on Los Angeles Angels of Anaheim season tickets, a golf club membership, a timeshare in Arizona, summer and sports camps for his children, donations to J. Serra Catholic High School’s sports programs, college savings accounts, mortgage payments, home improvement projects, restaurant dining and retail shopping, according to the U.S. Attorney’s Office.
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Although Nieva could face a maximum of 40 years in prison, the agreement proposes 41 to 51 months behind bars and full restitution.
Nieva’s attorney, Michael Molfetta, said his client will do what he can to repay the stolen money.
“He accepted responsibility immediately,” Molfetta said. “He went in and met with the authorities and right away contacted the school to let them know he’s going to pay them back. He never shied away from accepting responsibility for what he did, and he won’t now.”
--City News Service
PHOTO Image via Shutterstock
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