Thousand Oaks man arrested for ten counts of grand theft after diverting sales from his employer
VENTURA COUNTY, Calif. – A Thousand Oaks man was arrested Monday in connection with nine years of fraudulent diversions totaling about $3.2 million from a Moorpark company.
On June 16, the 40-year-old Thousand Oaks man was arrested after a months-long investigation by the Moorpark Police Department shared a press release Tuesday from the Ventura County Sheriff's Office.
According to Moorpark Police, evidence collected during the investigation showed that beginning in 2016, the Thousand Oaks man had created a fraudulent business within his employer's company to generate sales of which he diverted about $3.2 million to himself.
The victimized business also incurred over $1 million in losses due to unauthorized cost of goods and shipping expenses added the Ventura County Sheriff's Office.
The 40-year-old was booked on ten counts of grand theft and is currently out of custody after posting his $50,000 bail Monday evening detailed the Ventura County Sheriff's Office.
"This case highlights the devastating impact of financial fraud on businesses and the importance of thorough investigative work to uncover long-term schemes," shared Amy Garcia, an Investigator with the Moorpark Police Department. "We are committed to holding those who engage in deceptive financial practices accountable for their actions."
The Thousand Oaks man now awaits his arraignment currently scheduled for June 30 of this year noted the Ventura County Sheriff's Office.
The investigation into this matter is still ongoing and anyone with information is asked to contact the Moorpark Police Department.
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