Trust fund manager pleads guilty for embezzlement, again | KOB 4

Trust fund manager pleads guilty for embezzlement, again

Ryan Laughlin
February 21, 2019 06:36 PM

ALBUQUERQUE, N.M. - Paul Donisthorpe pleaded guilty, again, on Thursday in a procedural move one day ahead of his sentencing. 


Donisthorpe admitted to stealing millions from clients in a financial group he managed for people with disabilities, called Desert State Life Management. 

"I would like them to hear out what at least my son went through," said Veronica Cruz, the only victim to show up in court on Thursday. 

Cruz was there as Donisthorpe amended his guilty plea, one day before a federal judge is set to sentence him for wire fraud and money laundering. 

"I was frustrated because of all that he's done to all of these people that really, really needed this money," Cruz said.

Donisthorpe stole more than $6 million from more than 100 disabled New Mexicans, like Cruz's son. 

"Twenty-six years ago we were in a car accident and in this car accident our car was pretty smashed up. The motor was between the two of us. He was age five at the time and he had broke his neck," Cruz said. 

Her 5-year-old son was paralyzed and received money to pay for a lifetime of medical expenses. 

Now, her son is 30 and Cruz says Donisthorpe stole thousands of dollars from her son. 

Donisthorpe is 63-years-old and his plea deal suggests he could be sent to prison for anywhere from 8 to 12 years.

The judge can go outside of those recommendations as well. 

Donisthorpe's attorney says he will deliver a prepared statement before he hears his sentence. 


Ryan Laughlin

Copyright 2019 KOB-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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