Nuevo Man Sentenced to Prison For Embezzlement Scheme

A Nuevo man was sentenced to six years in prison Friday for stealing hundreds of thousands of dollars from seniors whom he persuaded to give him money to invest in a bogus profit-making venture.

Toby David Smith, 59, was arrested on July 3 following an investigation into a nearly two-year fraud scheme perpetrated by Smith, according to the Riverside County Sheriff’s Department.

Smith was charged with four counts of financial elder abuse, two counts each of money laundering and grand theft and a sentence-enhancing allegation of targeting multiple individuals in an embezzlement scheme. He pleaded guilty to all four charges…

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