A Wildomar-based property investment firm partner suspected of embezzling nearly $750,000 was in custody Wednesday.
Celeste Marie Avellana, 62, was arrested Tuesday on suspicion of grand theft following a seven-month investigation into alleged illegal activity committed by the Mission Viejo resident, according to the Riverside County Sheriff's Department.
Sheriff's Lt. Zachary Hall said investigators believe Avellana misappropriated funds that were intended for distribution to her associates at Potter & Schleuniger, a California limited liability company that handles rental properties throughout the region.
Hall did not disclose how long the alleged thefts occurred, or the manner in which the suspect allegedly attempted to conceal the activity. According to the sergeant, Avellana acted in the capacity of a controller in the business venture.
She was arrested without incident at her office on Rancho Parkway and booked into the Southwest Detention Center in Murrieta, with bail set at $746,000, jail records indicate.
– City News Service.