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Hundreds Of Thousands Of Dollars Embezzled From Local Olive Company

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Goleta, CA-- Sheriff deputies arrested 39-year-old Cathy Latou who, reportedly admitted to embezzling over $360,000 from the Santa Barbara Olive Company.

The owners of the company contacted the sheriff's department on Monday, after Latou reportedly confessed to the theft.

After a further investigation, sheriff officials discovered Latou may have taken an additional $90,000. Investigators believe the majority of funds were obtained through a company credit card or company checking account.

The sheriff's department believes Latou spent the money on personal items and for gambling excursions.

She was arrested for embezzlement (508 P.C.) and booked into Santa Barbara County Jail on Monday, March 2, 2009 where she posted bail ($20,000). The case will be sent to the District Attorney’s Office once the investigation is complete.

Story Created: Mar 10, 2009 at 11:56 AM PST

Story Updated: Mar 11, 2009 at 10:41 AM PST

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