Court documents revealed yesterday that a former executive with sticky fingers confessed to raiding the coffers of a San Diego non-profit for a hefty sum. Katherine Lu Acquista, the ex-director of Operations and Accounting at the San Diego Regional Economic Development Corporation (EDC), admitted to a federal court that she helped herself to more than $400,000 intended to foster San Diego's business climate for personal indulgences, as reported by the Department of Justice.

The EDC, which prides itself on boosting the city's economic prowess and worldwide competitiveness, saw Acquista misuse her authority to access the organization's finances, including bank accounts and credit cards. She pocketed the non-profit's cash by charging personal expenses to the company card, directing the accountants to write checks to herself, and falsifying records to cloak her actions, according to her plea agreement. "This defendant took funds that were supposed to make San Diego a stronger business community and spent them on herself," U.S. Attorney Tara McGrath condemned the embezzlement act, which defrauded the non-profit of $433,275.89. McGrath's sentiment towards this betrayal of trust was echoed by FBI San Diego’s Acting Special Agent in Charge John Kim, who vowed justice against deceptive misconduct that undermines any organization's integrity.

Landing herself in hot water, Acquista now faces up to two decades behind bars and a possible $250,000 fine or a sum equivalent to the gross gain or loss from the offense, whichever is heftier. The 47-year-old from Escondido is slated to stand before U.S. District Judge Battaglia on sentencing day on July 15. The Federal Bureau of Investigation led the probe into Acquista’s underhanded activities, revealing unsurpassed financial betrayals.