Former official pleads guilty to embezzling nearly $16 million from O.C. school district

  • 📰 latimes
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 82%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Jorge Armando Contreras used Magnolia School District money to finance a lavish lifestyle including a house, BMW and cosmetic surgery, prosecutors say.

A former Orange County public school official has pleaded guilty to embezzling nearly $16 million from a district where most students are classified as economically disadvantaged. Jorge Armando Contreras used the money he stole from the Magnolia School District to finance a lavish lifestyle, including a $1.5-million house in Yorba Linda, a $127,000 BMW and $190,000 in cosmetic surgery, according to federal prosecutors.

Using his access to school district bank accounts and the student body bank account, Contreras wrote checks in small amounts, got them signed and then increased the dollar amounts and inserted fictitious names, the plea agreement said. The school district put him on administrative leave in August 2023, and he was arrested in October. He is scheduled for sentencing before U.S. District Judge Fred W. Slaughter on July 25.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Real-world assets narrative saturates crypto market despite $16 million exploit on CurioOndo Finance (ONDO) is leading the real-world assets (RWA) category in an impressive rally that has seen its market capitalization increase by 17.1% in the last 24 hours.
Source: FXStreetNews - 🏆 14. / 72 Read more »