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A 49-year-old Trabuco Canyon man agreed to plead guilty to embezzling more than $2 million from a private elementary school in Huntington Beach, authorities said Monday.
Ricardo Nieva pleaded not guilty at his arraignment today on two counts of wire fraud, but he signed an agreement with federal prosecutors Aug. 17 to enter a guilty plea at a later date. Later this month, U.S. District Judge Dean Pregerson is expected to set a hearing for that purpose.
From 1995 to Sept. 12 of last year, Nieva was the Pegasus School’s business manager. From about December 2006 to May of last year, Nieva cashed 256 checks payable to himself that amounted to a total of $2,093,667.84, according to his plea agreement.
Nieva tried to cover his tracks by altering bank statements and doctoring other records, according to the plea deal.
Nieva used his ill-gotten gains on private school tuitions for his children and family vacations to Las Vegas, Jackson Hole, Wyoming, Charleston, S.C., Hawaii and Europe, according to the agreement.
He also spent some of the stolen money on Los Angeles Angels of Anaheim season tickets, a golf club membership, a time-share in Arizona, summer and sports camps for his children, donations to J. Serra Catholic High School’s sports programs, college savings accounts, mortgage payments, home improvement projects, restaurant dining and retail shopping, according to the agreement.
Although Nieva could face a maximum of 40 years in prison the agreement proposes 41 to 51 months behind bars. Nieva would agree to pay full restitution as well, according to the agreement.
Messages left with Nieva’s attorney, Michael Molfetta, were not immediately returned.
— City News Service