SAN DIEGO (AP) — A former San Diego businessman who embezzled more than $1 million and used most of it to fund a fledgling football league has been sentenced to nearly 3 ½ years in federal prison.
Prosecutors say Jaime (Hye'-mee) Cuadra was sentenced Monday to 41 months. He pleaded guilty in June to wire fraud and filing a false federal income tax return.
In a plea agreement, Cuadra acknowledged embezzling money while he was chief financial officer of Oceanic Enterprises Inc. of San Diego.
Prosecutors say he used much of the money to develop and promote the United States Football League, which plans to launch next year.
Cuadra was fired from Oceanic Enterprises in February and resigned as president and CEO of the football league.
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