San Diego

A financial planner charged with embezzling $200,000 from an elderly couple pleaded guilty Tuesday to two grand theft counts.

Isaac Cubillos, 39, of Clairemont, entered his plea before Municipal Judge John Thompson, who scheduled sentencing for March 1.

Deputy Dist. Atty. Sally Williams said Cubillos operated Financial Planning Services, but the only address for the firm they have found was a post office box.

Cubillos met Cecil and Modina Burbank, the bilked couple who are retired and are in their 80s, while he worked for another investment firm.

“The maximum sentence under the plea bargain is four years,” Williams said.

As part of a plea bargain, another grand theft charge stemming from the loss of $20,000 by another investor was dropped.

Cubillos was arrested Jan. 18 at The Californian, an El Cajon newspaper where he had worked the past few months as a newsroom clerk.

He remains in County Jail in lieu of $500,000 bail.