Exec Guilty of Embezzling More Than $2M from Sparks Firm

By: AP Email
By: AP Email

RENO, Nev. (AP) - The former chief financial officer for a door
lock manufacturer in Sparks faces up to 67 years in prison after
pleading guilty to embezzling $2.5 million.

U.S. Attorney Daniel Bogden says Juan Ramon Cabezas pleaded
guilty on Tuesday to mail fraud, tax evasion, aggravated identity
theft, money laundering and bank fraud.

Bogden says the 55-year-old Reno man forged more than a dozen
checks - some worth as much as $200,000 - while serving as the CFO for Securitron Magnalock Corp., a subsidiary of a Swedish door
security company. He also falsified accounting entries to send
checks to a personal retirement account.

Judge Howard McKibben scheduled sentencing for Feb. 14. Cabezas
also could face up to $5 million in fines. He already agreed to
forfeit his home, stock and retirement account.

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