Joe Medrano, the Clayton City Councilman who last week was found guilty of felony embezzlement, has resigned.
Medrano sent a letter to his fellow councilmembers, which stated the following.
You are all aware of the outcome of my trial last Thursday October 11, 2012.
I was both surprised and disappointed by the verdict.
I will be filing an appeal and hope to have the verdict reversed on appeal. I had fully expected to be found not guilty and this matter to be behind me. Unfortunately, the process will take more time.
I have tremendous respect for the Citizens and City of Clayton and have been honored to have been able to serve them over the past four years. In order to allow the city to begin moving past these unfortunate circumstances I am resigning my position on the City Council effective October 11, 2012.
I want to thank my family and the multitude of friends, clients, colleagues and Clayton residents who have reached out to me to offer their support, kindness and love to me and my daughter, and continue to stand by me through this process.
I am blessed to live in a community that cares about me as much as I care about them.
Sincerely,
Joe Medrano
Medrano, who was running for re-election, is the owner of Insurance Management Corporation (IMC), a middle-man between insurance companies and the businesses they insure. Medrano was charged with embezzling $159,630 from a former client. The prosecution said that Medrano breached his fiduciary responsibility when he kept for his own use money sent to him by iPass Corporation in 2009 to pay their Workers Compensation insurance premiums, according to the Clayton Pioneer.
Medrano, who served as Vice-Mayor, faces a maximum sentence of four years in state prison. He remains out of custody on his own recognizance pending sentencing, which will take place on December 12th of this year.