- Associated Press - Tuesday, March 22, 2016

LOS ANGELES (AP) - The president of a Southern California industrial laundry firm has pleaded guilty to federal charges related to the embezzlement of more than $8 million from his company.

The U.S. Attorney’s office says Luis Mariano Rodriguez faces 20 years in prison when he’s sentenced in June. The 48-year-old pleaded guilty Monday to one count of mail fraud.

City News Service reports Rodriguez admitted in court that he and three other businessmen participated in an elaborate scheme that submitted fraudulent invoices to his company, CM Laundry. The Gardena-based firm paid the bogus bills, with the proceeds being shared by the four men.

One other defendant has pleaded guilty and another is expected to enter a guilty plea.

A fourth defendant has pleaded not guilty and is awaiting trial.

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