Former executive with auto racing parts company in Ventura County headed to prison for embezzlement
Prosecutors say executive stole more than $3 million from Simi Valley business.
A former executive with an auto racing parts company has received a long prison sentence, after being convicted of embezzling more than $3 million.
Simi Valley-based Enderle Fuel Injection makes high performance engine parts. Prosecutors say Bill Lee Jones worked for the company, eventually managing the company’s finances. They say starting in 2014, Jones started to write unauthorized company checks to himself.
An audit showed that the now 63-year-old man had embezzled more than $3 million. Investigator say he wrote more than 1800 unauthorized checks over a nearly five year long period.
The former Simi Valley man pled guilty to 12 grand theft charges. He’s been sentenced to 12 year in state prison, and ordered to pay more than $2.6 million in restitution.