On June 30, it was reported that a California man who was the former CFO of Alameda-Contra Costa Transit was convicted on seven charges associated with embezzlement, tax evasion and money laundering. The man was charged in 2014 after he was allegedly stole more than $500,000 from an Oakland-based church.
It appeared that the man had diverted funds to his personal company from three nonprofits that were run by the church. He was accused of diverting funds and using them to pay for personal expenses, such as a luxury car, a mortgage and golf club memberships. The nonprofits were formed with the purpose of providing housing and other services for Oakland community residents with low or moderate incomes.
After the jury issued its verdict, the judge ordered that the man be held without bail. Although he had been out on $100,000 when he was charged, he will be held in custody until his sentencing, which is scheduled to take place in mid-September. A spokesperson for AC Transit stated that the man had never been accused of any wrongdoing while he was employed there.
Being accused of embezzlement or misappropriating funds for personal use are serious accusations that can have far-reaching impacts on the accused person’s future. In some cases, for example, the person could face a jail sentence and lose his or her job, often making it difficult to pay off fines and make ends meet once he or she has been released. People who have been issued these types of charges might find it advisable to meet with a criminal defense attorney as early as possible in the process so that a strategy to counter the allegations can be constructed.
Source: The Christian Post, “Former AC Transit CFO Convicted of Embezzling $590K From Allen Temple Baptist Church“, Leonardo Blair, June 30, 2017