Laguna Beach Man Sentenced to Four Years for Fraud and Embezzlement
David Robert McDonnell, a 74-year-old business owner, was sentenced to four years in federal prison for felony misrepresentation and embezzlement of almost $6 million.
McDonnell pled guilty to one count of wire fraud and breach of fiduciary responsibility to the beneficiaries of the trusts he managed.
- McDonnell's business, McDonnell Business Service, handled estates of various clients.
- The company was based in Laguna Beach and had been run by McDonnell since 2018.
The prosecution, led by Assistant United States Attorney Jennifer L. Waier, stated McDonnell embezzled the money through his company.
The sentence was handed down on October 6, after McDonnell's guilty plea on August.
Author's summary: Laguna Beach man sentenced to 4 years for $6 million embezzlement.