Accountant Pleads No Contest in Embezzlement
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An accountant for a Chatsworth company pleaded no contest Monday in Van Nuys Superior Court to embezzling at least $100,000, which he invested and subsequently lost in the stock market.
George Stoffmacher, 49, of Woodland Hills, entered the plea to one count of grand theft by embezzlement in exchange for dismissal of four counts of forgery.
Stoffmacher worked in the accounting department of Commodore Products in Chatsworth and was dismissed after the embezzlement was discovered, said Deputy Dist. Atty. John K. Spillane. Stoffmacher used company money to invest in the stock market, Spillane said. Eventually, the investments failed and the money was lost.
Spillane said Stoffmacher maintains that the amount was about $107,000. The company contends that it lost closer to $150,000 between Jan. 1 and June 26, 1986.
Sentencing will be Sept. 18.
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