Ex-record keeper pleads guilty to embezzlement
Richard James Ditzel of North Natomas pleaded guilty Tuesday in federal court to stealing from a Sacramento credit union where he was responsible for the financial record keeping. Ditzel, 41, admitted embezzling $409,000 over a 6 1/2-year period and using much of the money to acquire collectible coins and make payments on his personal credit card accounts.
To conceal his theft, Ditzel acknowledged, he made entries showing the fund transfers as fictitious business expenses incurred by Capital Power Credit Union - now SAFE Credit Union.
The FBI executed a search warrant in March at Ditzel's Burberry Way residence and seized thousands of dollars worth of coins and other valuables purchased with the purloined funds, according to Assistant U. S. Attorney Courtney Linn. Ditzel has agreed that the FBI may transfer those items to SAFE Credit Union as partial restitution, Linn said.
The embezzlement came to light during an audit last summer. Ditzel is scheduled for sentencing Aug. 5.