Crime & Safety
Ladera Ranch CFO Loses His Avastra in White Collar Crime
A former V.P. for Avastra USA faces 10 felonies after allegedly stealing $600,000; he lost $550,000 on E-Trade.
He was once a top executive for a privately-owned chain of sleep diagnostic centers. Now Nathan Melvin Gilliland, 29, of Ladera Ranch, faces 10 white collar felonies.
Gilliland was arraigned Tuesday and charged with stealing $600,000 from Irvine-based Avastra USA and its subsidiary, Sleep Medicine Institute Management.
Prosecutors say the former vice president directed the money from the company's online bank account to his personal bank account between January and July 2010. He then allegedly invested the money on E-Trade. He lost all but $50,000 of the original $600,000 in stock market investments, says the district attorney's office.
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Gilliland is being held on $500,000 bail, which he must prove is from a legitimate and legal source before posting bond.
Irvine Police investigated the case, and Deputy District Attorney Daniel Underwood of the Major Fraud Unit will be prosecuting the case.
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Gilliland's pre-trial hearing is scheduled for March 28 at 8:30 a.m. in department H-1, , Newport Beach.
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