SAN FRANCISCO — A Peninsula girl is dealing with time behind bars after being discovered responsible of embezzling hundreds of thousands of {dollars} from a seafood firm and utilizing the funds to pay for private journey, luxurious items and faculty tuition, in line with prosecutors.
After a two-week trial, a jury on Thursday convicted 57-year-old Brisbane resident Antonietta Nguyen of a number of counts of wire fraud, aiding and abetting wire fraud, conspiracy to commit wire fraud, conspiracy to move financial devices for the aim of laundering and tax evasion, the U.S. Lawyer’s Workplace stated.
Nguyen was a minority shareholder of San Francisco-based ABS Seafood, a personal seafood wholesaler and importer, and served as the corporate’s chief monetary officer.
From January 2014 to Might 2020, Nguyen fraudulently used an organization bank card and funds from the corporate’s checking account to pay for hundreds of thousands of {dollars} of bills on her private bank cards, in line with prosecutors. She additionally charged private bills to her company bank card, which had been then paid for by ABS Seafood.
Prosecutors stated Nguyen used the stolen funds to pay for private journey, purses and different luxurious items from Louis Vuitton, Hermes, Goyard, Chanel and Neiman Marcus; property taxes for considered one of her residences; and faculty tuition charges for a relative.
She misappropriated $2.7 million in firm funds over a interval of 6½ years, in line with prosecutors.
Nguyen additionally concocted an inflated bill scheme involving relations who ran Pescaderia Pacifica Worldwide Inc., a Filipino seafood exporter that was considered one of ABS Seafood’s high distributors and primary supply for imported tuna, prosecutors stated.
She brought on ABS Seafood to pay greater than double the true worth of the imported seafood by creating false invoices, which she hid from others on the firm. Her relations then cut up the proceeds, with a few of the cash being wired to financial institution accounts within the names of Nguyen’s husband and daughters, in line with prosecutors.
Prosecutors stated Nguyen additionally evaded private earnings taxes she and her husband owed for 2018 and 2019 by underreporting the quantity of joint taxable earnings they’d for these years.
She was launched on bond and is scheduled to return to courtroom for sentencing on Oct. 10.
Nguyen faces as much as 20 years in jail and a $250,000 wonderful for every rely of wire fraud and wire fraud conspiracy, 20 years in jail and a $500,000 wonderful for the rely of conspiracy to move financial devices for the aim of laundering and 5 years in jail and a $100,000 wonderful for every rely of willful tax evasion.
