Former CFO of ABS Seafood, Inc., Antonietta Nguyen, has been sentenced to 36-month in prison for embezzling over $9 million from the San Francisco-based seafood wholesaler, according to an announcement by the United States Attorney's Office for the Northern District of California. Prosecutors presented evidence that Nguyen, who oversaw the company's finances, committed wire fraud, money laundering, and tax evasion. Her crimes were pervasive enough to span from 2015 to 2020, racking up substantial personal gains at the expense of the business.
In a trial that culminated in a federal jury finding Nguyen guilty of 12 felony counts, it was revealed that she utilized company funds for a myriad of personal indulgences, including luxury goods and family vacations. According to the press release from the U.S. Attorney's Office, Nguyen also paid property taxes for her residence and a rental property, and her children’s college tuition with the embezzled money, going so far as to misappropriate about $2.7 million in company funds for her own use.
The schemes she orchestrated also involved a Filipino seafood exporter owned by Nguyen's brother, which was used to siphon funds via fraudulent invoices. Nguyen's actions imposed a $9 million drain on ABS Seafood, a stark revelation from the court findings.
Moreover, Nguyen was also found guilty of evading federal taxes. She failed to report the true extent of her income from ABS Seafood, specifically omitting the benefits derived from the payment of personal expenses, leading to her owing an additional $121,336.08 in unpaid taxes. The combination of these financial crimes not only earned Nguyen the three-year incarceration sentence but also a three-year term of supervised release, as mandated by Senior U.S. District Judge Susan Illston. Her imprisonment is set to begin on February 6, 2026, with a restitution hearing scheduled for January 16, 2026.
Assistant U.S. Attorneys Sailaja M. Paidipaty and Colin Sampson prosecuted the case with the help of Sara Slattery.
