Former Lynwood District Chief Business Officer Arrested on Misappropriation of Public Funds, State Income Tax Charges

Former Lynwood District Chief Business Officer Arrested on Misappropriation of Public Funds, State Income Tax Charges

FTB 02.17.2012

Sacramento –A Santa Ana man was arrested on numerous counts of misappropriation of public funds, embezzlement, enhancements for excessive taking, state income tax fraud and state income tax evasion, the Franchise Tax Board (FTB) announced.

William D. Agopian, 60, was employed by the Lynwood Unified School District as its Chief Business Officer. According to FTB investigators, Agopian allegedly failed to report the more than $600,000 he defrauded from the school district in 2006 – 2010. Agopian allegedly used funds deposited into a school bank account opened for a District sponsored student exchange trip for his own benefit. The scheme was discovered when the school district hired an individual to review its books.

As a result, he owes the state more than $60,000 in personal income tax. Penalties, interest, and the cost of the investigation will be added to this amount and sought as restitution.

Agopian was booked into the Los Angeles County Main Jail on Wednesday. His bail is set at $700,000 and his arraignment is scheduled for February 17 in Department 30 of the Folz Criminal Justice Center.   

This is a joint investigation between the Los Angeles County District Attorney’s Office and FTB.

FTB’s criminal investigation program identifies and investigates cases of tax evasion and tax fraud to encourage compliance with California income tax laws and maintain the public trust.

The charges and allegations contained in the criminal complaint are merely allegations, and the defendant is presumed innocent unless and until proven guilty.