Ex-Navy SEAL pleads guilty to embezzling $1M from friends

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

SAN DIEGO — A former Navy SEAL who stole more than $1 million from 11 active and retired SEALs and a family friend in an investment scam pleaded guilty Monday to charges including grand theft and fraud in the sale of a security.

Jason Matthew Mullaney, 42, faces between six years, eight months and 12 years, eight months in prison when he is sentenced Oct. 7 by Judge Frederick Maguire.

Deputy District Attorney Hector Jimenez said Mullaney got the SEALS and the family friend to invest in his money-lending business. The prosecutor said the defendant used his SEAL status to get others to invest in Trident Financial Holdings and Acquisitions, then transferred the money into his personal bank accounts for his own use.

“The SEALs thought they were investing money, but in reality, Mr. Mullaney was simply spending their money for his own purposes, ” Jimenez said in July. “They all lost all their money.”

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.