Embezzling Yacht Brokers Sentenced

Former long-time Sausalito yacht brokers Clay and Teresa Prescott were each sentenced yesterday to eight months in the county jail for stealing more than $200,000 from their clients. They must also pay restitution.

The District Attorney maintained that the couple used monies received from boat buyers to pay personal expenses, draining escrow accounts and bouncing checks to sellers. 

Back in January, Clay, 65, copped to two counts of embezzlement, while Teresa, 49, pleaded guilty to grand theft. Their admitted crimes could have earned Clay nearly six years in prison and Teresa four. According to today’s Marin IJ, Teresa’s attorney said the sentence was "very reasonable and fair." There’s no word on what their vicitms think.