Quantcast

Feds: Parking lots owner swindled Los Angeles VA out of $11M - KSBY.com | San Luis Obispo and Santa Barbara Area News

Feds: Parking lots owner swindled Los Angeles VA out of $11M

Posted: Updated:

LOS ANGELES (AP) - Authorities allege that a man who operated parking lots for the U.S. Department of Veteran's Affairs in Los Angeles defrauded the agency out of $11 million.

A U.S. attorney's statement says 58-year-old Richard Scott kept two sets of books for 15 years, stashing millions in unreported cash and millions more in over-reported expenses.

Authorities say Scott, owner of Westside Services LLC, was arrested in Santa Monica on Wednesday.

Court papers say Scott used the wealth he gathered to buy three $2.5 million condominiums in Santa Monica, a racing boat in Miami, and cars that include Ferraris, high-end Mercedes-Benzes and a Shelby Super Snake Mustang. Federal authorities are attempting to seize those assets.

Scott has not yet entered a plea and it's unclear whether he has hired an attorney.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly

© KSBY.com 2017, KSBY.com
A CORDILLERA COMMUNICATIONS Station
All rights reserved
Privacy Policy, | Terms of Service, and Ad Choices

Can't find something?