by NEWPORT BEACH, Calif. — A former executive at a Newport Beach company specializing in classic car acquisitions has been arrested on federal charges for allegedly embezzling $7 million while living in the U.S. illegally, authorities said.
Alexander G. Ramos, 62, a Mexican national residing in Newport Beach, is accused of orchestrating a years-long fraud scheme while working in the company’s Risk Management Department, according to the U.S. Attorney’s Office for the Central District of California.
Ramos had been employed at the firm since 2017 until his termination in September 2024.
During his time at the company, federal officials allege that Ramos exploited his position to divert company funds intended for legitimate vehicle-related expenses—including tax, title, and license payments—to accounts he personally controlled.
The Department of Justice said Ramos directed excess payments to third-party entities, such as a Las Vegas-based DMV services business, then instructed those entities to route the surplus funds into his personal bank accounts.
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A financial review showed roughly $7 million in misappropriated funds deposited into those accounts.
Some of the money was allegedly meant as refunds to the company’s clients who had overpaid on vehicle registration fees.
Instead, the funds were reportedly rerouted by Ramos for personal use, including the purchase of a home in Irvine, a city in Orange County.
“Ramos allegedly caused checks to be issued from the victim company to certain parties… then directed those entities on how to dispose of the extra money,” the DOJ stated in its May 22 statement.
Authorities say the illegal activity dates back to at least January 2020.
Ramos, who was deported in 2017, had unlawfully returned to the United States prior to the alleged crimes.
Ramos was taken into custody on Thursday and charged with wire fraud, a felony offense that carries a maximum sentence of 20 years in federal prison.
He was ordered held without bond by a federal magistrate judge, with an arraignment scheduled for June 30 in Santa Ana.
