A Riverside man was sentenced to two years in federal prison for embezzling more than $350,000 from his employer to pay for Coachella tickets, a hot tub and other extravagant personal expenses.
As manager of the tech firm Networks 2000, Matthew P. Hernandez controlled finances and was able to transfer company money to his personal accounts, the U.S. Attorney’s Office said.
He issued direct deposits from the company’s checking account to pay off personal credit card debt and used corporate credit cards to buy luxury items including a home gym, a $3,500 hot tub and a watch priced more than $1,000, the Los Angeles Times reported Monday.
The scheme involved hundreds of transactions over seven years, prosecutors said.
Hernandez, 46, had pleaded guilty to wire fraud. He was sentenced on Friday.
The sentencing also ordered him to pay restitution of more than $356,600 to the San Diego-based company, the Times said.