San Diego CFO Embezzles Millions from Wireless Distributor

San Diego, CA – United States Attorney Laura E. Duffy announced the arraignment and guilty plea of Alfonso Fierro, Jr., for stealing millions of dollars from his employer, WSA Distributing, Inc., a wireless handset distributor headquartered in San Diego.

According to court documents, Alfonso Fierro, Jr. worked as WSA Distributing’s Corporate Controller from 2008 through 2012. In 2012, he was promoted to Chief Financial Officer (“CFO”) of the company. From September 2011 through December 2013, Fierro abused his position within the company to steal millions of dollars in company funds.

Fierro forged the authorized signatures on WSA checks, made false statements on WSA letterhead about his income, falsified WSA’s corporate books and records to cover up his thefts, and concealed material information about his scheme from his employer. All told, Fierro admitted forging 110 WSA checks, totaling $2,480,967.11.

Fierro used the stolen funds to catapult him into the lifestyles of the rich and famous. His biggest purchase was a $2.79 million home in Rancho Santa Fe. Fierro acquired for himself the accoutrements of his newly rich lifestyle, complete with membership at an exclusive San Diego Country Club, luxury vehicles, plenty of fine jewelry and watches, and exclusive travel and accommodations.

As part of his plea, Fierro will be required to pay WSA Distributing back the $2,480,967.11 he stole. He will next appear in court on May 30, 2014, at 9 a.m., before U.S. District Judge Dana M. Sabraw.

Fierro, 41, of Rancho Santa Fe, California, faces charges of mail fraud, Title 18, United States Code, Section 1341.

Maximum penalties for mail fraud are 20 years in custody; $250,000 fine; 3 years of supervised release; mandatory order of restitution to victims. Fierro will be required to pay restitution to WSA Distributing, Inc.

The Federal Bureau of Investigation investigated this case.

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