By Ranjan Bhaduri
NEWPORT BEACH, CA, Nov. 14, (THAINDIAN NEWS) Matthew Mercuro, 36, and a resident of California, who served as the CFO for Ryan Sheckler, was arrested for embezzling around $365,000 from the professional skateboarder. As per the sources, Mercuro has been bailed for $400,000 and is trying to prove that the money in his accounts are legitimate. The accused will be facing the jury on Nov, 17, Tuesday, where he will have to prove the sources from where his money came from.

Reports say that Ryan Sheckler, the under-aged kid who is being overpaid for his own MTV reality show, had appointed Mercuro as the CFO of his companies last year. Mercuro had been given access to two of Ryan’s business accounts namely, Ryan Sheckler RipsLLC and Sheckler Merch 2 LLC. Mercuro, who had been acting as the CFO for just over a year now, took advantage of his position and transferred Ryan’s money into some personal accounts belonging to him, his wife and one of his friends. The authorities investigated Mercuro’s business houses in the city of San Clemente which is the residential city for both Mercuro and the star skateboarder Ryan Sheckler.

The companies, when carrying out financial reviews, found out about the missing money, which led to the arrest of Mercuro by the Huntington Beach Police Department. Mercuro, has been charged with two counts of felony of grand theft. If these charges are proved, the accused could be sent to prison for a maximum period of 6 years and 8 months. However, according to the Orange County District Attorney, the case is still being investigated, and any one with information is requested to come forward.