FORMER CORPORATE CONTROLLER ARRAIGNED FOR STEALING $600,000 FROM EMPLOYER AND USING MONEY ON PERSONAL E-TRADE ACCOUNT


Tony Rackauckas, District Attorney
401 Civic Center Drive West
Santa Ana, CA 92701

For Immediate Release
Case # 12HF0441






March 6, 2012

Susan Kang Schroeder
Chief of Staff
Office: 714-347-8408
Cell: 714-292-2718

Farrah Emami
Spokesperson
Office: 714-347-8405
Cell: 714-323-4486

FORMER CORPORATE CONTROLLER ARRAIGNED FOR STEALING $600,000 FROM EMPLOYER AND USING MONEY ON PERSONAL E-TRADE ACCOUNT

 

NEWPORT BEACH – A former corporate controller was arraigned today for stealing $600,000 from his employer and using most of the money to invest in stocks with a personal E-Trade account. Nathan Melvin Gilliland, 29, Ladera Ranch, is charged with eight felony counts of computer fraud, one felony count of grand theft, and one felony count of identity theft with sentencing enhancement allegations for aggravated white collar crime over $500,000 and property loss over $200,000. If convicted on all counts, Gilliland faces a maximum sentence of 16 years in state prison. He is being held on $500,000 bail and must prove the money is from a legal and legitimate source before posting bond. He is scheduled for a pre-trial hearing March 28, 2012, at 8:30 a.m. in Department H-1, Harbor Justice Center, Newport Beach.

 

Between January and July 2010, Gilliland worked as a corporate controller in Irvine for Avastra USA, Inc. and its subsidiary, Sleep Medicine Institute Management. He is accused of having access to the company’s online bank accounts and diverting funds online from the corporate bank account to his personal bank account. In the course of six months, Gilliland is accused of using his position as controller to take $600,000 from his employer.  He is accused of then depositing those funds into an E-Trade brokerage account for personal use. The defendant is accused of losing $550,000 in stock market investments he made.

 

When contacted by an Avastra USA, Inc. representative June 29, 2010, Gilliland is accused of telling the representative that he only had $50,000 of the funds left in his E-Trade brokerage account.  The theft was reported to Irvine Police Department, who investigated the case.

 

Deputy District Attorney Daniel Underwood of the Major Fraud Unit is prosecuting this case.

 

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