Orange County Man Sentenced to 2½ Years in Federal Prison for Embezzling $1.8 Million from Commercial Real Estate Company
SANTA ANA, California – An Orange County man was sentenced today to 30 months in federal prison for embezzling more than $1.8 million from his employer, a commercial real estate management company and developer.
Duy Duc Nguyen, 38, of Garden Grove, was sentenced by United States District Judge James V. Selna, who ordered him to pay $1,812,331 to the victim, Anaheim-based Milan Capital Management.
On January 17, Nguyen pleaded guilty to one count of wire fraud.
Milan Capital employed Nguyen as an accounts payable clerk in its accounting department from July 2014 to December 2017. Beginning in January 2015 and continuing until March 2018, Nguyen stole the password of Milan Capital’s treasurer, then used it without permission to alter the bank account and routing information listed in certain vendor accounts in the company’s accounting system, replacing them with his own bank account and routing numbers. As a result, Nguyen fraudulently caused Milan Capital to make payments directly into his bank account while seemingly paying the actual invoices of legitimate vendors.
Nguyen also altered company records and lied to company executives when they asked about vendors’ complaints of non-payment of various invoices. The company ultimately paid the actual vendors in what amounted to a duplicate payment.
After Milan Capital terminated Nguyen in December 2017, he continued to steal money from the company until his scheme to defraud was discovered in March 2018. During this period, Nguyen unlawfully gained entry into Milan Capital’s office by using an improperly retained key and by misusing one or more passwords to gain access to the company’s accounting system and fraudulently cause the company to transmit more money into his bank account.
In total, Nguyen stole $1,812,331 from the victim and used the funds for his own personal expenses.
The FBI investigated this matter.
This case was prosecuted by Assistant United States Attorney Robert J. Keenan of the Santa Ana Branch Office.