In Los Angeles, it is reported that Belinda Exon (55), the former president of a Southern California company, has decided to plead guilty to charges of embezzlement.
White collar crime charges were filed against Exon after it was discovered that she had embezzled $4 million from cities in the state of California.
According to prosecutors, Exon worked at Rehab Financial Services, Inc., which is based out of Huntington Beach. The company, which handled loans and escrow, administered grant money to cities in California. Some of the money the company collected came from the United States Department of Housing and Urban Development (HUD) and was meant to pay for city wide housing programs.
Since the embezzlement was discovered, the company has gone out of business. At this time, Exon plans to plead guilty to one charge of embezzlement. She could be sentenced with up to 46 months imprisonment and is scheduled to make her appearance in court on June 7, 2010.
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