FORMER CORPORATE CONTROLLER CONVICTED AND SENTENCED FOR STEALING $550,000 FROM EMPLOYER AND USING MONEY ON PERSONAL E-TRADE ACCOUNT

For Immediate Release
Case # 12HF0441






October 16, 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 CONVICTED AND SENTENCED FOR STEALING $550,000 FROM EMPLOYER AND USING MONEY ON PERSONAL E-TRADE ACCOUNT

 

SANTA ANA – A former corporate controller was sentenced yesterday to five years and eight months in state prison for stealing $550,000 from his employer and using the money to invest in stocks with a personal E-Trade account. Nathan Melvin Gilliland, 30, Ladera Ranch, pleaded guilty Oct. 15, 2012, to one felony count of computer fraud, one felony count of grand theft, and one felony count of identity theft with a sentencing enhancement allegation for aggravated white collar crime over $500,000. In addition to his prison sentence, the defendant was ordered to pay $550,000 in restitution.

 

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 had access to the company’s online bank accounts and diverted funds online from the corporate bank account to his personal bank account. Over the course of six months, Gilliland used his position as controller to take $550,000 from his employer.  He then deposited those funds into an E-Trade brokerage account for personal use. The defendant lost $500,000 in the stock market investments he made.

 

When contacted by an Avastra USA, Inc. representative June 29, 2010, Gilliland told 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 prosecuted this case.

 

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