San Diego man admits taking charitable trusts money
A former trustee pleaded guilty in San Diego federal court to charges involving embezzlement of funds from charitable trusts.
Earl Nelson Feldman pleaded guilty Tuesday to wire fraud and filing false tax returns, the U.S. Attorney’s Office said.
Prosecutors said Feldman admitted stealing more than $1.6 million from trusts he managed for years.
The money was spent on personal expenses instead of being donated to charities.
Feldman has repaid more than $1.5 million and as part of a plea agreement he pledged to repay the remaining balance to more than 50 individual charities.
Feldman also told the court he has written a check for more than a half-million dollars to the Internal Revenue Service to cover what he owes in federal income taxes.