Michael Minh Nguyen, financial services manager for the City of Placentia is currently being held on $4.3 million bail at the Orange County Jail for allegedly misappropriating public funds. It is believed that for nearly a year Nguyen made wire transfers from the City account to personal accounts in his name and others. Authorities believe that he altered Placentia’s financial letters to hide the embezzlement. Nguyen was in charge of all wire transfers for the City and was the contact person for the banks to confirm all transfers. The embezzlement went unnoticed until the FBI alerted Placentia to unusual activity on their city account. Nguyen was making over $100,000 working for the city when he took over the position as interim finance director.
Posting Bail after an arrest for Embezzlement Charges
While most judges follow a bail schedule, some will take into consideration the nature of the crime. In embezzlement cases, judges may set the bail at the amount that was allegedly stolen in order to prevent the suspect from posting bail with stolen money. For instance, in the case above, the judge set Mr. Nguyen’s bail at the exact amount that was allegedly stolen from the City of Placentia. A bail hearing can be set to determine if the original bail amount should be reduced. Premiere Bail Bonds understands the delicate nature of embezzlement cases and will guide you through the process of posting bail. Regardless of your financial situation, we can help. Call Premiere Bail Bonds today for a free consultation at 800-662-0056.