{"id":2007532,"date":"2023-08-21T21:34:02","date_gmt":"2023-08-22T01:34:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ex-auditor-at-oc-real-estate-agency-pleads-guilty-to-embezzling-almost-3-million\/"},"modified":"2023-08-21T21:36:17","modified_gmt":"2023-08-22T01:36:17","slug":"ex-auditor-at-oc-real-estate-agency-pleads-guilty-to-embezzling-almost-3-million","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ex-auditor-at-oc-real-estate-agency-pleads-guilty-to-embezzling-almost-3-million\/","title":{"rendered":"Former auditor at OC real estate agency admits to embezzling nearly $3M."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fex-auditor-at-oc-real-estate-agency-pleads-guilty-to-embezzling-almost-3-million%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2007532&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<h2>Former Executive Pleads Guilty \u200dto Embezzling $2.7 Million<\/h2>\n<p>SANTA ANA, Calif.\u2014In a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pornhub-founders-16-million-mansion-razed-in-massive-fire-arson-suspected\/\" title=\"Pornhub Founder\u2019s  Million Mansion Razed In Massive Fire, Arson Suspected\">shocking case<\/a> of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/moving-in-stereos\/\" title=\"Moving in Stereos\">corporate fraud<\/a>, a former executive at an \u2064Orange County commercial \u2062real \u200bestate agency has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-president-trump-to-pardon-gen-michael-flynn-per-report\/\" title=\"BREAKING: President Trump to Pardon Gen. Michael Flynn, Per Report\">pleaded guilty<\/a> to embezzling over $2.7 million from his employer. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ex-auditor-at-oc-real-estate-agency-pleads-guilty-to-embezzling-almost-3-million\/\" title=\"Former auditor at OC real estate agency admits to embezzling nearly M.\">scheme involved submitting bogus invoices<\/a> for services that were \u2064never performed by companies controlled by his family and friends.<\/p>\n<p>Varun\u2063 Aggarwal, 41, of Irvine, admitted to one count of wire fraud, according to the \u200bU.S. \u200cAttorney&#8217;s Office. U.S. District Judge Cormac J. Carney\u2062 has set a sentencing hearing for January 22,\u2064 where Mr. Aggarwal could face up to 20 years in prison.<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<ul>\n<li>\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n              <a href=\"http:\/\/www.theepochtimes.com\/us\/suspect-shot-by-oc-deputies-after-report-of-one-killed-one-stabbed-in-lake-forest-5477819\">Suspect Shot by \u2062OC Deputies \u200cAfter Report\u200c of One Killed, One Stabbed in Lake Forest<\/a>\n            <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/21\/2023<\/div>\n<\/p><\/div>\n<\/li>\n<li>\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n              <a href=\"http:\/\/www.theepochtimes.com\/us\/married-couple-among-3-retail-theft-ring-suspects-arrested-5477190\">Married Couple Among 3 Retail Theft\u200c Ring Suspects Arrested<\/a>\n            <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/19\/2023<\/div>\n<\/p><\/div>\n<\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<h3>Elaborate Scheme<\/h3>\n<p>According to his\u200d plea agreement, Varun Aggarwal worked in the\u200d internal\u200d auditing department of Newport Beach-based KBS Realty Advisors \u200dfrom 2008\u2063 to January 2022. He \u200brose to the\u2062 position of director within \u2064the \u2063department. During this time, Aggarwal used his position to carry out his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scandal-plagued-illinois-democrat-resigns-from-office\/\" title=\"Scandal-Plagued Illinois Democrat Resigns from Office\">embezzlement scheme<\/a>.<\/p>\n<p>As a member of the company&#8217;s internal auditing\u200d group, Aggarwal was well-versed in KBS&#8217;s payment\u2063 policies and \u2062procedures. He exploited this knowledge by having\u2063 his \u2062friends and family become\u200b approved vendors for KBS, allowing them \u2062to submit fraudulent invoices\u200b for consulting services \u2063that were \u2062never provided.<\/p>\n<p>Aggarwal\u200c then redirected the payments from these invoices, funnelling the money into \u200chis own \u2062bank accounts\u200d without the\u2062 knowledge of the vendors. In total, he fraudulently obtained approximately $2.72 million from\u2063 KBS.<\/p>\n<p>After the \u200ccompany initiated an investigation into the\u200d suspicious invoices, \u200dAggarwal\u200b resigned from his \u200bposition in January 2022.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>fraud for embezzling $2.7 million from his employer. Aggarwal, a former executive at an Orange County real estate agency, admitted to submitting fake invoices for services that were never provided by companies owned by his family and friends. He now faces the consequences of his actions.<\/p>\n","protected":false},"author":410,"featured_media":2007533,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2007532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2007532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/410"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2007532"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2007532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2007533"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2007532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2007532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2007532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}