Federal officials said that a 62-year-old Mexican man who lives illegally in Orange County is accused of stealing $7 million from a Newport Beach company that buys vintage cars.
The U.S. Department of Justice said in a news release that Alexander G. Ramos, a Newport Beach resident, worked in the company’s risk management division from 2017 until his termination in September 2024.
In his role at the company, the 62-year-old allegedly handled his employer’s loans and maintained connections with title agents and other partners nationwide, according to federal prosecutors.
He was responsible for managing requests for title payment from the company’s accounting department, title and risk department, and others.
“Ramos allegedly caused checks to be issued from the victim company to certain parties, including a Las Vegas DMV services business,” officials said. “The checks were supposed to cover expenses for tax, titling and licensing associated with car purchases.”
The 62-year-old allegedly overpaid the outside companies and then ordered those companies to return the excess funds to bank accounts under his control, according to federal investigators.
“A law enforcement review of financial records revealed that approximately $7 million in checks and wires were deposited into Ramos-controlled bank accounts from the outside entities in the car industry,” according to the release. “The origin of some of the funds deposited into Ramos’s bank accounts showed the checks and wires were made out to the victim company and were intended as refunds to that company’s clients who had overpaid for vehicle registration fees.”
Ramos is charged with transferring the money into accounts under his control and using the proceeds for personal expenses, such as purchasing a home in Irvine, rather than redistributing the money to his employer’s accounts.
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“The illegal transfers date back to at least January 2020,” according to the officials.
According to reports, the 62-year-old was deported in 2017 but later returned; however, authorities did not explain how he managed to do so or whether his employer was aware of his immigration status.
Charged with felony wire fraud, Ramos is being held without bail and faces a maximum penalty of 20 years in federal prison.
On June 30, he is expected to appear in court.
