Ismail J. Ramsey, U.S. Attorney | U.S. Attorney for the Northern District of California
A federal jury has convicted Antonietta Nguyen, a former Chief Financial Officer of ABS Seafood, on charges related to embezzling over $9 million from the San Francisco-based seafood company. The trial took place over two weeks under Senior U.S. District Judge Susan Illston.
Nguyen, 57, hailing from Brisbane and a minority shareholder in ABS Seafood, was found guilty of wire fraud, aiding and abetting wire fraud, conspiracy to commit wire fraud, conspiracy to transport monetary instruments for laundering purposes, and tax evasion. The court documents revealed that between January 2014 and May 2020, she misused company funds for personal expenses through fraudulent means. These included using a company credit card for personal travel and luxury goods from high-end brands like Louis Vuitton and Chanel.
Evidence showed Nguyen orchestrated an inflated invoice scheme with family members at Pescaderia Pacifica International Inc., leading ABS to pay more than double the actual value for imported seafood. The excess funds were funneled back into U.S.-based accounts belonging to her husband and daughters.
The prosecution also presented evidence that Nguyen underreported joint taxable income with her spouse in 2018 and 2019 to evade taxes. "The defendant devised multiple ways to defraud her business partners of several millions of dollars," stated United States Attorney Craig H. Missakian.
FBI Special Agent in Charge Sanjay Virmani remarked on the severity of Nguyen's actions: "As CFO, she systematically stole millions from her own company." IRS Criminal Investigation Oakland Field Office Special Agent in Charge Linda Nguyen emphasized the breach of trust involved: "Her conviction is befitting and a strong deterrent."
Nguyen remains free on bond pending sentencing scheduled for October 10, 2025. She faces severe penalties including up to 20 years in prison per count of wire fraud-related charges and significant fines.
Assistant U.S. Attorneys Sailaja M. Paidipaty and Colin Sampson are leading the prosecution alongside assistance from other legal professionals following investigations by the FBI and IRS-CI.
