The city of Placentia, California, just north of Orange County, accused Michael Minh Nguyen of embezzlement after over $5.16 million went missing. With the help of local law enforcement and the FBI Cyber Task Force, the Orange County district attorney’s office has been able to recover $4 million. So far, $2.6 million has been returned to the city of Placentia. 34 year-old Ngyuyen is a former financial services manager for the city. He is accused of wire transferring city funds between Jan. 27, 2014 and April 12, 2016. Nguyen would send the money to various private accounts and manipulate the books to hide his transactions. Nguyen is charged with 36 felony counts of misappropriation of public funds, 66 felony counts of money laundering, one felony count of creating a nonsufficient funds check, and two felony counts of falsifying records. He also will receive a sentencing increase for committing an aggravated white collar crime over $500,000 with property loss over $3.2 million. Nguyen faces 97 years and 18 months in state prison and a fines of $10.3 million. He proclaims he’s innocent. Source: LA Times
