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NV exec guilty of embezzling $2M-plus from Sparks firm
by Associated Press
Oct 20, 2011 | 2292 views | 0 0 comments | 5 5 recommendations | email to a friend | print
Tribune/John Byrne - Securitron Magnalock, a subsidiary of a Swedish door security company, is located on Vista Boulevard in Sparks. A former chief financial officer is accused of embezzling $2.5 million from the company through forged checks. The man, Juan Ramon Cabezas, pleaded guilty and faces up to 67 years in prison.
Tribune/John Byrne - Securitron Magnalock, a subsidiary of a Swedish door security company, is located on Vista Boulevard in Sparks. A former chief financial officer is accused of embezzling $2.5 million from the company through forged checks. The man, Juan Ramon Cabezas, pleaded guilty and faces up to 67 years in prison.
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RENO (AP) — The former chief financial officer for a door lock manufacturer in Sparks faces up to 67 years in prison after pleading guilty to embezzling $2.5 million.

U.S. Attorney Daniel Bogden says Juan Ramon Cabezas pleaded guilty on Tuesday to mail fraud, tax evasion, aggravated identity theft, money laundering and bank fraud.

Bogden says the 55-year-old Reno man forged more than a dozen checks — some worth as much as $200,000 — while serving as the CFO for Securitron Magnalock Corp., a subsidiary of a Swedish door security company. He also falsified accounting entries to send checks to a personal retirement account.

Judge Howard McKibben scheduled sentencing for Feb. 14. Cabezas also could face up to $5 million in fines. He already agreed to forfeit his home, stock and retirement account.
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