Former ABS Seafood CFO Sentenced to 36 Months in $9 Million Fraud Scheme

Former ABS Seafood Chief Financial Officer Antonietta Nguyen has been sentenced to 36 months in federal prison for her role in a sophisticated $9 million fraud scheme that exploited her position of trust within the San Francisco-based seafood importing company.

Senior U.S. District Judge Susan Illston handed down the sentence on November 14, 2025, following Nguyen's conviction on 12 felony counts including wire fraud, conspiracy, money laundering, and tax evasion, according to the U.S. Attorney's Office for the Northern District of California.

Background and Context

The case exposes vulnerabilities in corporate financial controls within the seafood import industry, where complex international supply chains can create opportunities for sophisticated fraud. ABS Seafood, a major San Francisco-based seafood importer specializing in tuna from the Philippines, fell victim to what prosecutors described as an "inflated invoice scheme" that operated undetected for over six years.

The fraud ran from at least 2015 through 2020, during which time Nguyen exploited her dual role as CFO and minority shareholder to manipulate the company's payment systems. The scheme ultimately cost ABS Seafood more than $9 million, with approximately $2.7 million directly misappropriated by Nguyen.

Key Figures and Entities

Antonietta Nguyen served as Chief Financial Officer and minority shareholder of ABS Seafood, a position that granted her access to the company's financial systems and authority over vendor payments. Court records show she leveraged this access to execute the fraud scheme through Pescaderia Pacifica International, Inc., a Filipino seafood exporting firm owned by her family members and one of ABS's primary tuna suppliers.

The scheme involved multiple family members who operated the Philippine company, with proceeds from the inflated invoices being distributed among them. Some funds were subsequently wired back to U.S. bank accounts held in the names of Nguyen's husband and daughters, creating a complex money trail that obscured the illicit origin of the payments.

Legal and Financial Mechanisms

The fraud centered on what prosecutors termed an "inflated invoice scheme," in which Nguyen created false invoices that caused ABS Seafood to pay more than double the actual value of imported seafood. These fraudulent documents were concealed from other company executives, allowing the scheme to continue unchecked for years.

Nguyen exploited her access to ABS Seafood's bank accounts and corporate credit cards to divert millions for personal use. The stolen funds financed a lavish lifestyle including over $1 million in luxury goods, property taxes for her residence and rental property, her children's college tuition, and personal credit card payments. Additionally, Nguyen engaged in tax evasion by underreporting joint taxable income with her spouse for 2018 and 2019.

International Implications and Policy Response

The case highlights ongoing challenges in preventing financial crimes within multinational supply chains, particularly in industries like seafood importing that involve complex cross-border transactions. The use of family-owned overseas vendors as vehicles for fraud demonstrates how personal relationships can circumvent corporate safeguards.

Following the conviction, U.S. Attorney Craig H. Missakian emphasized the seriousness of Nguyen's breach of trust, stating: "The defendant devised multiple ways to defraud her business partners of several millions of dollars and got away with it for over six years. She exploited her position of trust in order to fund a lavish lifestyle for herself and her family members."

Sources

This report draws on court documents and statements from the U.S. Attorney's Office for the Northern District of California, including the November 14, 2025 sentencing announcement. The information reflects federal court records and official statements regarding the conviction of Antonietta Nguyen for wire fraud, conspiracy, money laundering, and tax evasion.