Wayne Martin Fong, Ex-Cop, Lawyer and Title Insurance Co. Veep, Stole $469k to Gamble: DA
A former New York cop who somehow parlayed that experience into a role on this coast as vice president of and associate counsel to an Irvine title insurance company is scheduled to be arraigned in Santa Ana this morning on charges he stole $469,000 from his employer to gamble. Wayne Martin Fong, 50, of Tustin, was held in lieu of $300,000 bail after his arrest by Irvine Police Thursday and filing of multiple felony counts by the Orange County District Attorney.
Mitchell Basil Zogob, Insurance Broker Fraudster, Brokers 10 Years in Can
Tuan Thanh Tran, Former Attorney, Accused of Stealing $150k from Former Clients
James Harry Fluch Accused of Embezzling $822,000 From Buddy's Business to Fund Lavish Lifestyle
Fidelity National Title Group hired Fong in 1999, and his role at the time the investigation of him began involved overseeing vendors hired to search for missing company assets. Four months after one such vendor, Global Discoveries, signed with Fidelity in March 2009, Fong is alleged to have sent the firm an email requesting that payments be sent to a particular account. You can guess where this is going: Fong is accused of collecting $469,000 in this account--set up with a different email address, phone number and mailing address than his Fidelity digits--and gambling the funds away.
A vendor suspicious that Fong provided addresses and a phone number different than Fidelity's alerted the company, which contacted the Irvine Police Department.
Fong had already been disbarred by the time he was arrested and charged with seven felony counts of grand theft and five felony counts of money laundering with allegations and sentencing enhancements for causing over $100,000 in loss, aggravated white collar crime over $100,000, and property loss over $200,000.
A conviction could send Fong to state prison for 13 years and four months, according to the district attorney.
Get the ICYMI: Today's Top Stories Newsletter
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Orange County, delivered to your inbox Monday through Friday.