Peninsula woman convicted of embezzling millions from seafood company

SAN FRANCISCO A Peninsula woman is facing time behind bars after being unveiled guilty of embezzling millions of dollars from a seafood company and using the funds to pay for personal journey luxury goods and college tuition according to prosecutors Related Articles Photos of secret Caltrain station apartment show in illicit renovations Former Caltrain director sentenced to days in jail for building secret train station apartment No charges to be filed in Redwood City jail inmate s death Caltrain contractor sentenced to days in jail for building secret apartments in train stations San Mateo court rejects Sheriff Corpus effort to halt removal process After a two-week trial a jury on Thursday convicted -year-old Brisbane resident Antonietta Nguyen of multiple counts of wire fraud aiding and abetting wire fraud conspiracy to commit wire fraud conspiracy to travel monetary instruments for the purpose of laundering and tax evasion the U S Attorney s Office revealed Nguyen was a minority shareholder of San Francisco-based ABS Seafood a private seafood wholesaler and importer and served as the company s chief financial officer From January to May Nguyen fraudulently used a company credit card and funds from the company s bank account to pay for millions of dollars of expenses on her personal credit cards according to prosecutors She also charged personal expenses to her corporate credit card which were then paid for by ABS Seafood Prosecutors commented Nguyen used the stolen funds to pay for personal trip purses and other luxury goods from Louis Vuitton Hermes Goyard Chanel and Neiman Marcus property taxes for one of her residences and college tuition fees for a relative She misappropriated million in company funds over a period of years according to prosecutors Nguyen also concocted an inflated invoice scheme involving family members who ran Pescaderia Pacifica International Inc a Filipino seafood exporter that was one of ABS Seafood s top vendors and main source for imported tuna prosecutors mentioned She caused ABS Seafood to pay more than double the true value of the imported seafood by creating false invoices which she hid from others at the company Her family members then split the proceeds with particular of the money being wired to bank accounts in the names of Nguyen s husband and daughters according to prosecutors Prosecutors reported Nguyen also evaded personal income taxes she and her husband owed for and by underreporting the amount of joint taxable income they had for those years She was published on bond and is scheduled to return to court for sentencing on Oct Nguyen faces up to years in prison and a fine for each count of wire fraud and wire fraud conspiracy years in prison and a fine for the count of conspiracy to conveyance monetary instruments for the purpose of laundering and five years in prison and a fine for each count of willful tax evasion