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Update (4/25/11): Zito was found guilty by a jury on 18 felony counts for embezzling more than $750,000 from Simi Valley Cycles. Specifically, the jury found Zito guilty on six counts of embezzlement, seven counts of grand theft, and five counts of filing false income tax returns. She was found not guilty on identity theft and forgery counts. Zito faces up to 18 years in prison.
Update (6/6/11): Zito has been sentenced to 18 years in state prison for what is now believed to be $850,000 worth in cash and vehicles from Simi Valley Cycles Inc. Zito was also ordered to pay $1,473,483 in restitution and $186,464 to the California Franchise Tax Board for back taxes on the ill-gotten gains.