By Rob McMillan | KABC7
LOS ANGELES (KABC) — A lawsuit filed by a Los Angeles developer claims the company’s former CFO embezzled millions of dollars designated for low-income housing projects, and instead used it to fund a lavish lifestyle for himself and his ex-girlfriend.
According to the complaint, Cody Holmes, 29, used his position with the company to transfer vast sums of money to himself and Madeline Witt, 28, to pay for exotic cars, expensive handbags, jewelry, private jets, concert tickets and the monthly rent for a 6,500-square-foot mansion in Beverly Hills.
“He took advantage of his position and embezzled millions of dollars using fraudulent and deceptive means to do so,” said Brian A. Sun, an attorney representing Shangri-La Industries. “(Those schemes included) doctoring up signatures, creating documents, and opening up fictitious accounts as detailed in our complaint.”
Read more at: KABC7
