BEVERLY HILLS—Adam Reed Zucker, 42, was sentenced to more than 14 years in state prison on charges of embezzling $2.4 million from an El Segundo company, the Los Angeles County District Attorney’s Office announced on Monday, March 18.
Zucker was the executive vice president for Artissimo Designs. He was in charge of securing licensing contracts with professional sports teams and collegiate athletic departments. Artissimo Designs creates ready-to-hang wall art, securing license agreements for the use of their logos, fight songs, depictions of stadiums and other licensed products.
According to a statement released by the Los Angeles County District Attorney’s Office, Zucker fabricated hundreds of licensing agreements. These agreements caused Artissimo Designs to pay $2.4 million in fake licensing fees, which were paid to seven different shell companies that Zucker’s personally owned. He then transferred the money into his personal bank account.
He was charged on Friday, March 15 by Los Angeles Superior Court Judge Jose Sandoval.
He pleaded no contest to 35 felony counts which including money laundering, filing false income tax returns and grand theft by embezzlement.
The District Attorney’s Bureau of Investigation, the El Segundo Police Department and the California Franchise Tax Board’s Criminal Investigation Bureau investigated the case successfully.