Two men pleaded not guilty Tuesday, March 17 to an alleged scheme to rip off a Buena Park furniture company out of more than $800,000.
Randhwan Lal Naidu, 34, of Long Beach, and Felipe Alcazar, 40, whose residence was not announced, were accused in an alleged scheme to rip off Abad Foam Inc., according to court records.
Naidu was charged with five felony counts of grand theft with sentencing enhancement allegations for aggravated white collar crime between $100,000 to $500,000 and aggravated white-collar crime exceeding $500,000.
Alcazar is charged with five counts of grand theft with sentencing enhancement allegations of aggravated white collar crime between $100,000 and $500,000 and aggravated white collar crime exceeding $500,000. Alcazar also faces three felony counts of failure to file income taxes for 2014, 2015 and 2016.
From May 2012 through April 14, 2016, Naidu, who was the plant manager, was accused of counterfeiting 141 invoices for $835,151.35 in value taken from the company, according to Deputy District Attorney Michelle Lipton.
Naidu then allegedly sold excess foam to Alcazar and “admitted to keeping at least $200,000 of the cash paid by Alcazar for himself,” Lipton said in court papers.
“Alcazar profited from the stolen excess foam, but then failed to file tax returns for” the three years, Lipton said.