A 65-year-old California man who was the chief executive officer of a Sacramento-based real estate investment firm has admitted to embezzling $1,243,154 from his workers' pension plan. The man entered his guilty plea on Aug. 1. He faces a prison sentence of up to five years and a fine of up to $250,000 when he is sentenced in January. The case was investigated by the U.S. Attorney's Office for the Eastern District of California and the U.S. Department of Labor's Employee Benefits Security Administration.
