FOR IMMEDIATE RELEASE

Case # 17HF0883    

Date: October 9, 2018

FORMER CHIEF FINANCIAL OFFICER SENTENCED TO SEVEN YEARS IN PRISON FOR EMBEZZLING OVER $3.2 MILLION FOR PERSONAL USE

SANTA ANA, Calif. – A former Chief Financial Officer was sentenced today to seven years in state prison for embezzling over $3.2 million dollars for personal use.

Defendant

Charges

Sentence (Court Offer)

Timothy Michael Huth, 48, Rancho Santa Margarita

Pleaded guilty on June 13, 2018 to the following felony counts:

  • Grand theft
  • (16) Money laundering
  • (16) Forgery
  • Making false entries in records or returns

Sentencing Enhancements:

  • Property damage over over $3.2 million
  • Aggravated white collar crime over $500,000

Seven years in state prison

Circumstances of the Case

  • At the time of the crimes, Huth was the Chief Financial Officer of Meadows Asset Management since 1995.
  • Between 2008 and 2014, the defendant embezzled large sums of money from the company, falsified checks, and altered company records to hide his embezzlement. He also engaged in numerous acts of money laundering.
  • In total, Huth embezzled over $3.2 million and spent the money on personal expenses.
  • In January 2015, the embezzlement was discovered by Meadows Asset Management when several suspicious bank account transactions involving the defendant were uncovered.
  • Newport Beach Police Department investigated this case.

Prosecutor: Deputy District Attorney Nicholas Miller, Major Fraud Unit 

 



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