Heng Bill Chhay, 37, of Arcadia, California, who is currently in jail on charges he embezzled some $550,000 from his former employer, Empire Cos., a land development and construction company, has pleaded not gulity to the charges. Chhay had served as the company's head accountant before leaving last May. Prosecutors have filed 15 felony charges against Chhay related to the alleged embezzlement after an investigation revealed that he had written at least 13 checks to himself and manipulated the company's computer system in order to cover up his actions. Prosecutors allege that Chhay's scheme last approximately 2 years. He reportedly confessed to the embezzlement when he was interviewed by authorities on October 28th. According to the investigative report from the interview, Chhay said that he used the embezzled money to pay his bills and student loans, and to purchase luxury cars and take a Las Vegas vacation, among other things.Update (5/6/10): Chhay made restitution payments of $557,000 Tuesday and was sentenced to 180 days in prison. He had pleaded no contest to grand theft in March.
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