Ad Space Salesman Accused Of Embezzlement

Police Raid House Of Alleged Fraudster

Law enforcement officials say they have nabbed a suspected embezzler who is accused of defrauding his business of one hundred and forty thousand dollars.

The 52-year old defendant was an employee of the Korea Times for more than twenty years, having worked as a seller of ad space to companies.

On Wednesday, July 6^th, the man was taken into police custody during a raid on his home in Fullerton. The Orange County deputies arrived in the early hours of the morning with a search warrant, placed the suspect under arrest and began to search the house for evidence. Inside the house, they obtained documents that they claim confirm his involvement in the white-collar crime scheme.

Defendant Held In Santa Ana Jail While Awaiting Trial

According to police officials, the elderly man is being held at the Central Men's Jail in Santa Ana, after he failed to post a $140,431 bond.

Investigators with the Fullerton police department were first alerted to the alleged embezzlement scheme in 2010. They began to probe the man’s financial records, and according to a spokesman for the department, uncovered evidence indicating that he began stealing money from his employer in 2009.

He is accused of having his ad-space clients write their checks directly to his name, allowing him to pocket a portion of the proceeds illegally. An officer claims that the man has already confessed to the crime, admitting that he used the money to bolster his wife’s ailing business.

The suspect is scheduled to make a court appearance at West Justice Center in Westminster, where he expected to be formally charged with grand theft and embezzlement.

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