Laguna Beach man pleads guilty to embezzling nearly $6 million from clients
David Robert McDonnell of Laguna Beach pleaded guilty to embezzlement Monday. He is expected to be sentenced Dec. 9 in a courtroom in the Ronald Reagan Federal Building and Courthouse in Santa Ana, shown above.
(Meghann Cuniff)
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A 74-year-old Laguna Beach man pleaded guilty Monday to embezzling nearly $6 million as the executor of the estates of wealthy clients.
David Robert McDonnell embezzled the money through his Laguna Beach-based company, McDonnell Business Services, prosecutors said. The company handled the estates of various clients and would dole out assets to heirs after a client had died.
McDonnell is scheduled to be sentenced Dec. 9.
Prosecutors said the defendant embezzled $5,909,220.15 from four trusts from 2018 through January.
