RivCo Man Arrested for Alleged Million Dollar Embezzlement

A 59-year-old man has been arrested for allegedly embezzling about $1 million from numerous victims who invested their money with him, authorities said today.

On April 17, officers at the Perris Police Department received a call about a possible embezzlement. The caller stated that a large sum of money had been invested in 2022, but there had been no return or news from the broker since then, according to the Riverside County Sheriff's Department.

An investigation revealed that the suspect, identified as a resident of Nuevo, allegedly robbed several victims.

The suspect was arrested Wednesday on charges of alleged embezzlement, elder abuse, grand larceny and enhanced sentencing for white-collar crime. He was booked into the Cois Byrd Detention Center in Murrieta with bail set at $500,000. No information on Smith's background was available.

An investigation is ongoing. Anyone with information is asked to contact the Perris Police Department at 951-210-1000.