A former art reproduction company executive who pleaded no contest to embezzling $2.4 million was sentenced to 14 years and four months in prison, prosecutors announced Monday.
Adam Reed Zucker of Beverly Hills, 42, pleaded in August to 35 felony counts, including grand theft by embezzlement, money laundering and filing a false tax return. In his open plea, which was not negotiated with prosecutors, Zucker also admitted a white-collar crime allegation that could enhance his sentence.
Los Angeles County Superior Court Judge Jose Sandoval sentenced him on Friday.
Between 2010-15, Zucker was an executive vice president for sports licensing at Artissimo Designs LLC, an El Segundo company that created ready-to-hang wall art. The defendant was responsible for securing licensing agreements with major college athletic departments and professional sports teams to use their logos, fight songs, images of their stadiums and other licensed products.
When the company was sold in liquidation to new owners in 2015, auditors found that Zucker had fabricated hundreds of licensing agreements, so that Artissimo paid out $2.4 million in fake licensing fees to shell companies Zucker controlled.
All of the products involved were in the public domain and didn’t require licenses for their use.
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