Former Execs Plead Guilty in SEDC Scandal

Two former top San Diego redevelopment officials plead guilty

By Michelle Wayland
|  Wednesday, Nov 16, 2011  |  Updated 8:39 AM PDT
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Overhauling San Diego's Redevelopment

NBC San Diego

Dante Dayacap and Carolyn Smith at an earlier court appearance.

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Ex-SEDC Chief Charged With Embezzlement

Two former top redevelopment officials could be facing some serious prison time, according to the voiceofsandiego.org.

Overhauling San Diego's Redevelopment

Outside auditors found that under the longtime direction of its former president, Carolyn Smith, SEDC had become a virtual slush fund for secret staff bonuses, perks and frills.
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Two top officials of a city redevelopment agency could be facing jail time after pleading guilty to embezzling public funds, according to our media partners at voiceofsandiego.org.

Carolyn Smith and Dante Dayacap were accused of paying themselves and other Southeastern Economic Development Corp. (SEDC) employees more than $800,000 in illegal bonuses during a five-year period.

SEDC oversees taxpayer-sponsored development in San Diego's southeastern neighborhoods. Smith is the former president, Dayacap the former financial director.

The case was filed by the California Attorney General's office in May.

On Tuesday, Smith and Dayacap pleaded guilty to one count of embezzling public funds, according to voiceofsandiego.org. The remaining four counts against them were reportedly dismissed.

Both defendants had previously denied any wrong doing. 

Prosecutors are asking for a year in prison for each defendant and a combined restitution of $700,000.

Smith and Dayacap will be sentenced Jan. 20.

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