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Manhattan Beach attorney Sergio Valdovinos plead guilty to three counts of grand theft by embezzlement and one felony count of insufficient checking funds.
He was accused of stealing over $300,000 of clients monies.
"The defendant duped and deceived his clients of funds that were earmarked for them, only to blow hundreds of thousands of dollars of these funds gambling," Los Angeles County District Attorney Nathan J. Hochman said.
LOS ANGELES (Gambling911.com) - A 33-year-old former attorney, Sergio Valdovinos Ramirez, has pleaded guilty to three felony counts of grand theft by embezzlement and one felony count of insufficient checking funds this week in connection to the theft of more than $300,000 from his former clients to support his gambling addiction.
He also admitted a special allegation of committing a crime that resulted in $100,000 0r more in losses.
Ramirez, who resided in Manhattan Beach, primarily practiced in the Los Angeles South Bay area, although he represented clients throughout Southern California. He was disbarred in 2024.
Prosecutors claim Ramirez cheated his clients out of settlements or other court matters in order to fund his gambling habit for nearly a four year period between 2019 and 2023.
"The defendant duped and deceived his clients of funds that were earmarked for them, only to blow hundreds of thousands of dollars of these funds gambling," Los Angeles County District Attorney Nathan J. Hochman said in a news release.
As part of his plea agreement, Ramirez agreed to pay $50,000 before his Sept. 21 sentencing as well as at least $310,000 in restitution.
He is expected to be sentenced to two years behind bars.
- Nagesh Rath, Gambling911.com
