Mexican National Accused of Embezzling $7 Million From SoCal Employer

Alexander Ramos, an illegal immigrant who worked for a classic car company, directed checks meant for the company to his own accounts, prosecutors say.

Newport Beach Harbor in Southern California on Dec. 29, 2021. John Fredricks/The Epoch Times

A former executive of a Southern California company who was living in the United States illegally was arrested May 22 on suspicion of wire fraud after prosecutors claimed he embezzled about $7 million from his employer.

Alexander G. Ramos, 62, who lived in Newport Beach, Calif., faces 20 years in federal prison if found guilty, according to the U.S. Attorney’s Office in Los Angeles.

A federal magistrate judge ordered Ramos to be jailed without bond and scheduled his arraignment for June 30.

Ramos, a Mexican national, worked for a company in Newport Beach that specialized in the purchase of classic cars. He was removed from the United States in 2017 but returned, according to the U.S. Attorney’s Office.

Prosecutors say he was employed at the Newport Beach company from 2017 to September 2024, when he was fired from his position in the risk management department.

Court documents filed by the U.S. Attorney’s Office allege Ramos knew his employer’s loans and had relationships with title agents or other partners across the United States. Ramos also oversaw requests by the company’s title and risk department to its accounting department for payment to title agents, sometimes submitting requests himself, prosecutors said.

Ramos allegedly arranged to overpay outside parties, including a Las Vegas DMV services business. The checks were supposed to cover expenses for tax, titling, and licensing associated with car purchases.

He then allegedly told those entities where to direct the extra money, including by sending the funds to bank accounts that he controlled, prosecutors said.

Law enforcement reviewed the financial records and allegedly found that about $7 million in checks and wire payments were deposited into Ramos-controlled bank accounts from the outside entities.

The investigation also allegedly revealed that some of the checks and wire payments made out to the company where Ramos worked were intended as refunds to clients who had overpaid vehicle registration fees, officials reported.

Instead of being returned to Ramos’s employer, Ramos allegedly moved the funds to other accounts he controlled for his personal use. Some of the money was paid for a home in Irvine, prosecutors allege.

The median price of an Irvine home was $1.6 million in April, according to Redfin.

The money transfers allegedly date back to at least January 2020, according to court documents.

The FBI and the Federal Deposit Insurance Corporation Office of Inspector General are investigating the case.