Wednesday, March 07, 2012

Ladera Ranch man, former Avastra corporate controller arraigned for fraud and identity theft

Posted By CotoBlogzz

Rancho Santa Margarita, CA -  - Nathan Melvin Gilliland, a former Avastra corporate controller was arraigned yesterday  for stealing $600,000 from his employer and using most of the money to invest in stocks with a personal E-Trade account.

According to the Orange County District Attorney’s Office, Gilliland, 29, Ladera Ranch, was charged with eight felony counts of computer fraud, one felony count of grand theft, and one felony count of identity theft with sentencing enhancement allegations for aggravated white collar crime over $500,000 and property loss over $200,000. If convicted on all counts, Gilliland faces a maximum sentence of 16 years in state prison. He is being held on $500,000 bail and must prove the money is from a legal and legitimate source before posting bond.

Between January and July 2010, Gilliland worked as a corporate controller in Irvine for Avastra USA, Inc. and its subsidiary, Sleep Medicine Institute Management. He is accused of having access to the company's online bank accounts and diverting funds online from the corporate bank account to his personal bank account. In the course of six months, Gilliland is accused of using his position as controller to take $600,000 from his employer.  He is accused of then depositing those funds into an E-Trade brokerage account for personal use. The defendant is accused of losing $550,000 in stock market investments he made.

When contacted by an Avastra USA, Inc. representative June 29, 2010, Gilliland is accused of telling the representative that he only had $50,000 of the funds left in his E-Trade brokerage account.  The theft was reported to Irvine Police Department, who investigated the case.

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