Monday, June 29, 2009

California Condo Exec Sentenced In $530K Embezzlement Case

Peter G. Kontos, 36, of Newport Beach, California, was sentenced to 2 years in prison for embezzling some $530,000 from condominium members of the Villa Point Condominium Association where he had served as president. Kontos pleaded guilty last December to several criminal charges including grand theft and money laundering. According to prosecutors, commencing in 2003, Kontos forged the signature of the Association treasurer on checks issued to various condominium contractors, who then gave back most of the money to Kontos. Separately, Kontos was accused of shining a laser beam into the cockpits of helicopters on at least 2 occasions in 2006. When the authorities raided his home, they found $135,000 in cash, cocaine and a green-light laser. Kontos has reportedly paid $337,000 in restitution to date.

Read the story here and here.

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