{"id":55703,"date":"2024-03-07T16:12:07","date_gmt":"2024-03-08T00:12:07","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=55703"},"modified":"2024-03-07T16:12:07","modified_gmt":"2024-03-08T00:12:07","slug":"former-company-official-embezzled-2-7-million-from-employer-sentenced-to-33-months-in-prison","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=55703","title":{"rendered":"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison"},"content":{"rendered":"

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California<\/i>\u00a0<\/strong><\/span><\/p>\n

\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

\"\"\"\"Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced Thursday to\u00a0 33 months in federal prison for embezzling over $2.7 million from his employer. <\/span><\/p>\n

Aggarwai did this by submitting fake invoices for services that were either never provided or were billed at much higher rates than actual. <\/span><\/p>\n

The sentencing was carried out by United States District Judge Cormac J. Carney sentenced Aggarwalt and ordered him to pay back $.7 million as restitution. <\/span><\/p>\n

Aggarwal had pleaded guilty to wire fraud in August 2023.<\/span><\/p>\n

\"white\u201c[Aggarwal] was not driven to commit his crimes by need, desperation, or the inability to legitimately earn a living,\u201d prosecutors argued in a sentencing memorandum. \u201cDespite the advantages defendant enjoyed \u2013 including a first-rate education and a well-compensated professional career \u2013 [Aggarwal] chose to commit the underlying criminal conduct causing great losses and abusing his position of trust over a lengthy period of time.\u201d<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

From 2008 to January 2022, Varun Aggarwal worked in the internal audit department of KBS Realty Advisors in Newport Beach, eventually becoming the director. <\/span><\/p>\n

From at least January 2012 until January 2022, he exploited his position to steal money from KBS.<\/span><\/p>\n

Aggarwal knew the company’s payment processes well and manipulated them by having his friends and family become approved contractors for KBS. He then had these approved contractors send fake invoices for consulting work that was never done or was overpriced. Aggarwal redirected these payments to his personal bank accounts, often without the contractors knowing that he was benefiting from these transactions.<\/span><\/p>\n

Through this fraud, Aggarwal illegally got about $2,729,718 from KBS, which was supposed to pay for these services. <\/span><\/p>\n

He left KBS in January 2022 when the company started to look into the suspicious invoices<\/span><\/p>\n

The FBI investigated this matter.<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Assistant U.S. Attorney Brett A. Sagel of the Corporate and Securities Fraud Strike Force is prosecuting this case.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced Thursday to\u00a0 33 months in federal prison for embezzling over $2.7 million from…<\/p>\n","protected":false},"author":1,"featured_media":55654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-55703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-department-of-justice"],"yoast_head":"\nFormer Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison<\/title>\n<meta name=\"description\" content=\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cjnotebook.com\/?p=55703\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison\" \/>\n<meta property=\"og:description\" content=\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cjnotebook.com\/?p=55703\" \/>\n<meta property=\"og:site_name\" content=\"American Justice Notebook\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AmericanJusticeNotebook\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-08T00:12:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2024\/03\/accountant_1709338617.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1\" \/>\n\t<meta property=\"og:image:height\" content=\"1\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raul\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Raul\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703\"},\"author\":{\"name\":\"Raul\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/person\\\/f5521baddca77b521f012298775186c0\"},\"headline\":\"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison\",\"datePublished\":\"2024-03-08T00:12:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703\"},\"wordCount\":317,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/accountant_1709338617.jpg\",\"articleSection\":[\"U.S. Department of Justice\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cjnotebook.com\\\/?p=55703#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703\",\"name\":\"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/accountant_1709338617.jpg\",\"datePublished\":\"2024-03-08T00:12:07+00:00\",\"description\":\"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cjnotebook.com\\\/?p=55703\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=55703#primaryimage\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/accountant_1709338617.jpg\",\"contentUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/accountant_1709338617.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#website\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/\",\"name\":\"American Justice Notebook\",\"description\":\""Our liberty depends on the freedom of the press, and that cannot be limited without being lost." \u2014 Thomas Jefferson\",\"publisher\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cjnotebook.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\",\"name\":\"American Justice Notebook\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/Justice-Scales.jpg\",\"contentUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/Justice-Scales.jpg\",\"width\":675,\"height\":231,\"caption\":\"American Justice Notebook\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/AmericanJusticeNotebook\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/person\\\/f5521baddca77b521f012298775186c0\",\"name\":\"Raul\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"caption\":\"Raul\"},\"description\":\"Raul Hernandez is a former journalist. He has worked as a newspaper reporter for more than 30 years at the El Paso Herald-Post, El Paso Times, Press Enterprise in Riverside, California and the Ventura County Star in California. He was a court reporter for more than 20 years.\",\"sameAs\":[\"https:\\\/\\\/cjnotebook.com\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison","description":"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cjnotebook.com\/?p=55703","og_locale":"en_US","og_type":"article","og_title":"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison","og_description":"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced","og_url":"https:\/\/cjnotebook.com\/?p=55703","og_site_name":"American Justice Notebook","article_publisher":"https:\/\/www.facebook.com\/AmericanJusticeNotebook","article_published_time":"2024-03-08T00:12:07+00:00","og_image":[{"url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2024\/03\/accountant_1709338617.jpg","width":1,"height":1,"type":"image\/jpeg"}],"author":"Raul","twitter_misc":{"Written by":"Raul","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cjnotebook.com\/?p=55703#article","isPartOf":{"@id":"https:\/\/cjnotebook.com\/?p=55703"},"author":{"name":"Raul","@id":"https:\/\/cjnotebook.com\/#\/schema\/person\/f5521baddca77b521f012298775186c0"},"headline":"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison","datePublished":"2024-03-08T00:12:07+00:00","mainEntityOfPage":{"@id":"https:\/\/cjnotebook.com\/?p=55703"},"wordCount":317,"commentCount":0,"publisher":{"@id":"https:\/\/cjnotebook.com\/#organization"},"image":{"@id":"https:\/\/cjnotebook.com\/?p=55703#primaryimage"},"thumbnailUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2024\/03\/accountant_1709338617.jpg","articleSection":["U.S. Department of Justice"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cjnotebook.com\/?p=55703#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cjnotebook.com\/?p=55703","url":"https:\/\/cjnotebook.com\/?p=55703","name":"Former Company Official Embezzled $2.7 Million from Employer, Sentenced to 33 Months in Prison","isPartOf":{"@id":"https:\/\/cjnotebook.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cjnotebook.com\/?p=55703#primaryimage"},"image":{"@id":"https:\/\/cjnotebook.com\/?p=55703#primaryimage"},"thumbnailUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2024\/03\/accountant_1709338617.jpg","datePublished":"2024-03-08T00:12:07+00:00","description":"\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0SANTA ANA, California\u00a0 Varun Aggarwal, a 42-year-old former executive from an Orange County commercial real estate agency, was sentenced","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cjnotebook.com\/?p=55703"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cjnotebook.com\/?p=55703#primaryimage","url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2024\/03\/accountant_1709338617.jpg","contentUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2024\/03\/accountant_1709338617.jpg"},{"@type":"WebSite","@id":"https:\/\/cjnotebook.com\/#website","url":"https:\/\/cjnotebook.com\/","name":"American Justice Notebook","description":""Our liberty depends on the freedom of the press, and that cannot be limited without being lost." \u2014 Thomas Jefferson","publisher":{"@id":"https:\/\/cjnotebook.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cjnotebook.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cjnotebook.com\/#organization","name":"American Justice Notebook","url":"https:\/\/cjnotebook.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cjnotebook.com\/#\/schema\/logo\/image\/","url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/07\/Justice-Scales.jpg","contentUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/07\/Justice-Scales.jpg","width":675,"height":231,"caption":"American Justice Notebook"},"image":{"@id":"https:\/\/cjnotebook.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/AmericanJusticeNotebook"]},{"@type":"Person","@id":"https:\/\/cjnotebook.com\/#\/schema\/person\/f5521baddca77b521f012298775186c0","name":"Raul","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","caption":"Raul"},"description":"Raul Hernandez is a former journalist. He has worked as a newspaper reporter for more than 30 years at the El Paso Herald-Post, El Paso Times, Press Enterprise in Riverside, California and the Ventura County Star in California. He was a court reporter for more than 20 years.","sameAs":["https:\/\/cjnotebook.com\/"]}]}},"_links":{"self":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/55703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55703"}],"version-history":[{"count":2,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/55703\/revisions"}],"predecessor-version":[{"id":55705,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/55703\/revisions\/55705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/media\/55654"}],"wp:attachment":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}