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Former SEDC officials accused of embezzlement

Two San Diego redevelopment officials were arrested and accused of "embezzlement and misappropriation of public funds." The investigation that began in 2008 culminated this week when the Southeastern Economic Development Corp.'s former president and former finance director were accused of "five criminal felony counts" each. reported that the SEDC started paying "hundreds of thousands of dollars" to its employees in the form of "secret bonuses." Employees were ordered not to discuss the extra payments and alleged violation of the policy was termination. The investigation tracks the secret scheme as it "built up and, eventually, collapsed."

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