A Santa Clarita man pleaded guilty Wednesday to a federal charge for embezzling more than $1 million from his employer, The Claremont Colleges Services, where he was an electrical shop supervisor.
Steven Cowles, 45, entered a plea in downtown Los Angeles to one count of wire fraud.
As a shop supervisor, Cowles was responsible for maintaining electrical components at the college institutions, including ordering parts and supplies when needed, court papers show.
Cowles admitted that from June 2018 to July 2024, he misappropriated funds from his employer through at least 1,343 unauthorized transactions for expenses unrelated to Claremont College operations by fraudulently using employer-provided purchasing cards in his name, according to his plea agreement filed in L.A. federal court.
Cowles provided his employer false invoices and other forms — purporting to show legitimate purchases of needed electrical products — to conceal the fraud, prosecutors said. He also linked his employer-provided purchasing cards with his personal PayPal account and initiated transfers from the cards to third parties, according to the U.S. Attorney’s Office.
The Claremont Colleges Services is the support organization for the seven Claremont Colleges located in Los Angeles County.
U.S. District Judge Maame Frimpong scheduled an April 22 sentencing hearing, at which time Cowles will face up to 20 years in federal prison, prosecutors noted.