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

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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.

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