A 74-year-old Laguna Beach man pleaded guilty Monday to embezzling nearly $6 million as the executor of the estates of wealthy clients.
David Robert McDonnell embezzled the money through his Laguna Beach-based company, McDonnell Business Services, prosecutors said. The company handled the estates of various clients and would dole out assets to heirs after a client had died.
McDonnell is scheduled to be sentenced Dec. 9.
Prosecutors said the defendant embezzled $5,909,220.15 from four trusts from 2018 through January.