Belen resident pleads guilty in embezzlement case - KCBD NewsChannel 11 Lubbock

Belen resident pleads guilty in embezzlement case

Posted: Updated:

ALBUQUERQUE, N.M. (AP) - A Belen man has pleaded guilty to eight felony charges of embezzlement from Albuquerque-area residents who thought they were investing in restaurants.

Under a plea agreement announced Thursday by the state Attorney General's Office, 55-year-old Gerald Steven Tabet (TAB'-iht) faces possible prison time and would pay $475,000 in victim restitution.

The office says Tabet spent the money he got from investors on personal luxury travel, entertainment, and private dance lessons for a family member.

The plea agreement calls for Tabet to be sentenced to up to 72 years in prison but for all at least 63 years of the sentence to be suspended. That would leave facing up to nine years in prison.

His sentencing hasn't yet been scheduled.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

5600 Avenue A
Lubbock, TX. 79404

FCC Public File
publicfile@kcbd.com
806-744-1414
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KCBD. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.