Crime & Safety
Man who embezzled $36M from L.A. firm sentenced to prison
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LOS ANGELES — A man who embezzled more than $36 million from a Los Angeles company was sentenced Thursday to 10 1/2 years in federal prison and ordered to repay the money.
Paul McDaniel, 44, used most of the funds he embezzled to pay off $23 million in credit card debt, according to a statement from the U.S. attorney’s office.
McDaniel embezzled the funds over more than seven years while working as accounting manager for Hypermedia Systems Inc., a media technology services firm based in downtown L.A., prosecutors said.
McDaniel obtained the money by creating and approving false vendor invoices from a Nevada corporation he created, and the money went into a bank account he controlled, authorities said.
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