Tag Archives: irvine

Orange County: Missing Irvine Woman Found

Lisa Cimbaluk, 35, of Irvine, missing since Dec. 29, 2014, was recently found in deceased in the waters of Big Bear Lake. (Photo Courtesy: SBCounty.gov )

Lisa Cimbaluk, 35, of Irvine, missing since Dec. 29, 2014, was recently found deceased in the waters of Big Bear Lake. (Photo Courtesy: SBCounty.gov )

Staff Reports

Irvine/Big Bear – On Dec. 29, 2014, the parents of Lisa Cimbaluk, 35, reported their daughter missing from her home in Irvine. From that point, the story takes a downward turn, resulting in tragedy.
On Sun., Jan. 4, at approximately 2:15 a.m., San Bernardino County Sheriff’s Department (SBSD) Deputies from the Big Bear Station discovered Cimbaluk’s snow-covered vehicle at the Woodland Trailhead in the mountain town of Fawnskin.
According to SBSD, Deputies and volunteers began an exploration of the immediate area, but because of the snow and extreme overnight temperatures, they suspended their search until daylight.
On Mon., Jan. 5, the search for Cimbaluk continued, with 25 search and rescue members searching the area around the North Shore Parking Lot where her car was found, as well as the Woodland Trail. Patrol Citizens handed out flyers in surrounding communities, and SBSD began aerial searches of the area.
After suspending activity for the night, the search resumed again on Tues., Jan. 6, with more than double the number of search and rescue members actively looking for Cimbaluk, including assistance from Los Angeles, Orange, Riverside and Kern counties.
The search continued, and on Thurs., Jan. 8, at approximately 10 a.m., a body was located in the water near the South Shore area of Big Bear Lake from an aerial exploration. Personnel responded to the area and confirmed it to be a deceased female. The Coroner took charge and was able to positively identify the body as that of Lisa Ann Cimbaluk.
Whether Cimbaluk became lost or injured on the trail, or was the victim of foul play, is not known. SBSD will continue its investigation into her death, and hopefully be able to piece together the final days of Lisa Cimbaluk.
Anyone with information is urged to call the Sheriff’s Department at (909) 866-0100.

Orange County: $3.3 Million Embezzlement

STAFF REPORTS

Irvine – The former controller of a company that provides supervision services, including electronic monitoring programs to courts and probation departments, plead guilty this week to federal charges of embezzling well over $3 million from the company over the course of two years.

According to the U.S. District Attorney’s Office, Steven A. Hagstrom, 37, of Anaheim, who was an accountant and then controller of the Irvine-based Sentinel Offender Services, LLC, plead guilty on Tues., June 3, to one count of embezzlement before United States District Judge, David O. Carter.

As controller of Sentinel, Hagstrom had access to Sentinel’s bank accounts where fines, court fees and restitution payments from criminal defendants were held in trust. The accounts also held money paid to Sentinel for services provided to state and federal court systems. Beginning in early 2012 and continuing until April 2013, Hagstrom transferred approximately $3,338,197 from Sentinel’s bank accounts to bank accounts he controlled, where they could be used for his own benefit.

Judge Carter is scheduled to sentence Hagstrom on Sept. 29. The embezzlement count carries a statutory maximum sentence of ten years in federal prison. About half of the embezzled money has already been returned to Sentinel, and Hagstrom has agreed to make full restitution to his former employer.

The investigation into Hagstrom was conducted by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Division.

Orange County: Allergan Rejects Proposal

BY EMILY LUNDBERG

Irvine – Allergan, Inc., an Irvine-based multi-specialty healthcare company focused on discovering, developing and commercializing innovative pharmaceuticals, biologics and medical devices, announced that it has recently rejected an offer to merge with Valeant Pharmaceuticals International, Inc.

In an unsolicited proposal sent on April 22, Valeant offered to pay $48.30 in cash and .83 shares for each Allergan share. In the proposal information listed on their website, Valeant CEO, Michael Pearson, claimed that a merger between the two companies presents “an undeniable opportunity to create extraordinary value for both Allergan and Valeant shareholders by establishing an unrivaled platform with leading positions in ophthalmology, dermatology, aesthetics, dental and the emerging markets.”

Allergan’s rejection of the proposal obviously shows that they don’t agree with Pearson’s opinion. In fact, in his rejection letter to Pearson, Allergan CEO, David E. I. Pyott, stated that the proposal “substantially undervalues Allergan” and posed a serious risk because of a “large stock component, which we believe is a risk for Allergan stockholders due to the uncertainty surrounding Valeant’s long-term growth prospects and business model.”

Another reason why the merger offer was rejected by Allergan is that “given the strength in its business, Allergan plans to increase earnings per share by 20-25%” over the next couple of years.” Indeed the company has seen a net sales increase every business quarter since 2009. It is Allergan’s belief that accepting the offer may have affected their likelihood of reaching that potential.

Currently Allergan is Irvine’s seventh largest employer, with its 28-acre headquarters hosting nearly 2,000 employees. The company also employs an additional 9,000+ employees in over 100 countries across the world.