|For Immediate Release
Case # 09SF1038
November 13, 2009
|Susan Kang Schroeder
Public Affairs Counsel
CHIEF FINANCIAL OFFICER FOR PROFESSIONAL SKATEBOARDER’S BUSINESSES CHARGED WITH EMBEZZLING $365,000 FROM TWO
NEWPORT BEACH – The Chief Financial Officer (CFO) for a professional teenage skateboarder’s businesses was arrested and charged today with embezzling more than $365,000 from the victim by fraudulently transferring funds to himself from two corporate accounts. Matthew Mercuro, 36, San Clemente, is charged with two felony counts of grand theft with sentencing enhancements for excessive taking over $200,000 and $65,000. If convicted, he faces a maximum sentence of six years and eight months in state prison. Mercuro is being held on $400,000 bail and must prove the money is from a legal and legitimate source before posting bond. The defendant is expected to be arraigned Tuesday, Nov. 17, 2009, at the Harbor Justice Center in Newport Beach. The time and Department are to be determined.
Between June 2008 and April 2009, Mercuro worked as CFO for companies owned by professional skateboarder Ryan Sheckler. The defendant is accused of having access to the accounts of the two businesses, Ryan Sheckler Rips LLC and Sheckler Merch 2 LLC. He is accused of embezzling over $365,000 from these companies by transferring money from the corporate accounts into personal accounts and the account of his wife and a friend.
The theft was discovered when the suspicious transfers were noticed during a review of the companies’ finances. Mercuro was arrested today by the Huntington Beach Police Department, who investigated this case, at his business in San Clemente.
The investigation is ongoing. Anyone with additional information or who believes they have been a victim is encouraged to contact Huntington Beach Detective Mark Garcia at (714)960-8848 or Supervising District Attorney Investigator Ron Frazier (714)347-8691.
Deputy District Attorney Brian Mulherin of the White Collar Crime Team is prosecuting this case.