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John Milius' Business Manager Charged...

Charles Riedy Jr., 63, a former business manager for screenwriter and film director John Milius, has posted bail on charges of embezzling about $3 million from his ex-client, officials said.

Ried, a certified public accountan, appeared in U.S. District Court to answer a criminal complaint accusing him of two counts of securities fraud, said Cheryl Mimura, a spokeswoman for the FBI field office in Los Angeles.

Riedy allegedly had complete control over Milius' personal and corporate accounts. He allegedly fabricated purchases of collectible firearms for Milius, and excessively billed for his services, court documents said. Federal authorities also said that to replenish funds taken from Milius' personal checking account, Riedy allegedly liquidated $1.9 million worth of securities from a trust account for Milius' children, transferring the proceeds to Milius' depleted account

(source: AP)

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