THOUSAND OAKS : Man Pleads Guilty to Embezzlement
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The former controller of a Thousand Oaks actuarial firm pleaded guilty Friday in Ventura County Superior Court to charges that he embezzled more than $110,000 from the company by writing checks to himself.
Nooshin Zahab, 42, of Reseda pleaded guilty to one count each of grand theft and tax fraud, and admitted a special allegation that the theft exceeded $100,000. He faces a maximum penalty of eight years in state prison.
Zahab worked at Advance Benefit Systems Inc., a firm that manages pension plans, from 1985 until 1990, when he was fired for unknown reasons, said Deputy Dist. Atty. Jeff Bennett.
After finding unauthorized adjustments to the company’s ledger, Zahab’s successor learned that Zahab had made out 31 company paychecks to himself for about $4,000 each between September, 1988, and April, 1990, Bennett said.
“He had the ability to adjust the general ledger in line with his scheme,” so that the theft went undetected for months, Bennett said.
Zahab is free on $5,000 bail pending his sentencing, scheduled for Aug. 7.
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