Manteca man pleads guilty in bank fraud case
A Manteca man Thursday pleaded guilty to bank fraud for his role in embezzling more than $950,000 from a Stockton company where he worked, according to the U.S. attorney's office in Sacramento.
As part of his plea agreement, Chris Barna, 35, agreed to pay full restitution to M&C Association Management Services Inc. and to forfeit his house.
Federal prosecutors said Barna used some of the fraud profits to pay down his home's mortgage. Barna worked as the controller for M&C, a company that provides management and developer services to numerous community associations in Northern California. The fraud occurred from April 2007 through May 2011. Prosecutors said Barna misappropriated about 300 checks payable to the company from third parties, 40 checks payable to third parties from the company and two checks payable to a company of M&C's parent firm. Barna forged the endorsements on the checks or wrote "deposit only," prosecutors said, and he deposited the checks into accounts at Wells Fargo Bank. Barna then manipulated M&C financial records to conceal the fraud. He is scheduled to be sentenced Aug. 22 and faces a maximum sentence of 30 years in federal prison and a $2 million fine.