Release Date:   August 6, 2009

Contact:           Howard A. Wise, Senior Deputy District Attorney

                        (805) 662-1736

District Attorney Gregory D. Totten announced today that David Alvin Swoish (DOB 06/09/66) of Simi Valley pled guilty to two counts of grand theft, two counts of corporate embezzlement, one count of filing a false tax return, and admitted to taking more than $150,000. This matter was investigated by the Ventura County Sheriff's Department and the California Franchise Tax Board.

Swoish was a divisional controller for SMTEK, a company that was acquired by publicly held CTS Corporation. Swoish also worked as a controller for a division of CTS at their facility in Moorpark. From January 2004 to July 2006, Swoish caused $196,000 in checks to be written by SMTEK and CTS to a company called Brokerage Development Corporation (BDS). BDS was a “shell” company that was wholly owned by Swoish. BDS provided no services or goods to SMTEK despite being paid $196,000. Swoish did not declare the income from SMTEK and BDS on his personal and corporate state tax returns for tax years 2004 and 2005. He did not file any tax returns for 2006.

Sentencing is scheduled for October 28, 2009, at 1:30 p.m. in courtroom 12. Swoish is expected to be sentenced to four years and eight months in state prison.