Laguna Beach Man Sentenced to Four Years for Fraud and Embezzlement
David Robert McDonnell, a 74-year-old business owner, was sentenced to four years in federal prison for misrepresenting his clients and embezzling almost $6 million.
McDonnell pled guilty to one count of wire fraud and breach of fiduciary responsibility on August. His company, McDonnell Business Service, handled estates of various clients, and he embezzled the money through this company.
The prosecution, led by Assistant United States Attorney Jennifer L. Waier, stated that McDonnell's actions were a violation of his legal and ethical obligations as an executor.
The Laguna Beach based business had been run by McDonnell since 2018.
Author's summary: Man sentenced for embezzlement and fraud.