SANTA ANA, California – A former executive at a Newport Beach company that specializes in the purchase of classic cars – who also happens to be an illegal alien from Mexico – was arrested today on a federal complaint alleging he embezzled approximately $7 million from his employer.
Alexander G. Ramos, 62, of Newport Beach, is charged with wire fraud, a felony that carries a statutory maximum sentence of 20 years in federal prison.
A federal magistrate judge ordered Ramos jailed without bond and scheduled an arraignment for June 30.
According to an affidavit filed with the complaint, Ramos was employed at the victim company since 2017 until his termination in September 2024 in the company’s Risk Management Department. Through his positions, he knew his employer’s loans and held relationships with title agents or other partners nationwide. He also oversaw requests by the company’s Title and Risk Department to its Accounting Department for payment to title agents, sometimes submitting the requests himself.
Ramos allegedly caused checks to be issued from the victim company to certain parties, including a Las Vegas DMV services business. The checks were supposed to cover expenses for tax, titling, and licensing associated with car purchases.
However, Ramos purposely caused his employer to send too much money to the outside entities. He then directed those entities on how to dispose of the extra money, including by sending the funds to bank accounts that he controlled.
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. 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.
Instead of being returned directly to the Ramos’s employer, Ramos allegedly moved the funds to other accounts he controlled for his personal use, including buying a home in Irvine. The illegal transfers date back to at least January 2020, according to the complaint.
Ramos is an illegal alien from Mexico who was removed from the United States in 2017 but later returned.
A complaint contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty beyond a reasonable doubt in court.
The FBI and the Federal Deposit Insurance Corporation Office of Inspector General are investigating this matter.
Assistant United States Attorney Kevin Fu of the Orange County Office is prosecuting this case.
