Articles Tagged with Newport Beach

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An executive for the cosmetics company Urban Decay has been accused of stealing more than $1 million through bank transfer transactions between the business and fraudulent accounts he created. He is facing felony charges for the allegations.

Irvine resident Ranjeet Reddy Paladugo holds a position as the vice president of finance at the Newport Beach based company Urban Decay. He is suspected of utilizing several banks in order to create fake accounts, which were similarly named after business affiliates of the company, in order to embezzle funds that he transferred from Urban Decay. On July 17 he allegedly stole over $1 million from Urban Decay.

Paladugo purportedly commissioned a transaction in the amount of $598,500 which he transferred through one of the phony accounts. He then transferred that money into his personal bank account. This procedure was repeated again in the same amount, and routed through a second bogus business account. Paladugo is said to have used the stolen money for personal use, including the down payment on a house.

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Overnight between March 27 and March 28, several homeowners in the Dover Shores area of Newport Beach reported that someone had attempted to vandalize and burglarize their homes. Newport Beach spokeswoman Jennifer Manzella said, “In each of these cases, an unknown suspect had used brute force, possibly a kick, to force open the front door to the residence.”

Although nothing was taken in those incidents, witnesses had reported to the police that they had seen a white man with a muscular build, along with an SUV near the scene of two of the crimes around the same time.

The next night, between the hours of 7 and 10 p.m. another home in the Newport Beach area was burglarized. “The door was forced open in the same manner as the other homes,” Manzella said. The resident was not home at the time of the crime. According to Manzella, watches and several items of jewelry were stolen.

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A 36 year old man named Scott Patrick Cole of Newport Beach was booked into Orange County Jail on the suspicion of battery with serious bodily injury, trespassing, causing harm to an elder/dependent adult, and assault with a deadly weapon.

At around 4:30 p.m. officers got an assault call to the 800 block of West 15th St. After the officers arrived, they had made contact with a man, who fled to a nearby neighbor’s house for safety, said Jennifer Manzella, a Newport Beach police spokeswoman.

The unidentified victim was then taken to a nearby hospital for non-life threatening injuries and was later released. Apparently, the victim and Cole were acquainted, Manzella said. The officers were trying to contact Cole at the residence where the assault had allegedly taken place, but Cole repeatedly refused to come to the front door, said Manzella, adding that Cole seemed extremely agitated and began breaking windows and throwing objects inside the victim’s home.