Mater Dei offensive line coach Reed Diehl was arrested by FBI agents on suspicion of stealing $2.5 million dollars out of an investor. Diehl, of Coto de Caza, an exclusive Orange County neighborhood and father of three posted $75,000.00 bail and is now out of custody.
Authorities believe Diehl engaged in financial schemes taking millions of dollars from his victims. The former Tennessee Titan football player is accused of scamming a man identified in court documents as Ron V., a Chicago developer out of millions with the promise to build condo projects in Cabo San Lucas. Instead, authorities allege Diehl used the money to pay off other outstanding debts.
Diehl, owns ARA Capital, an investment banking firm in Irvine, California and is also accused by federal authorities of promising his clients investment opportunities where he indicated the return on investment would be 5% a month…..60% a year which is unheard of in todays financial climate. It is unclear at this time how many potential Orange County fraud or theft may exist or how many victims may be involved.
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