FRENCH VALLEY -- A former financial controller for the Pechanga Resort & Casino charged with embezzling nearly a half-million dollars from the business may plead guilty when he returns to court next week.

Paul Theodore Delvacchio, 39, of Temecula appeared before Judge James Warren at Southwest Justice Center on Wednesday.

After a lengthy meeting in his chambers with attorneys for both sides, Warren said that if Delvacchio pleads to all counts, he would agree to sentence him to no more than four years in state prison.

"That's conditional on his making full restitution," the judge added.

Deputy District Attorney Robert Harton confirmed that prosecutors had offered a plea agreement of eight years in prison.

The reaching of a plea agreement has been going back and forth with all parties involved for months.

One of the delays has involved the sale of Delvacchio's home, his attorney, John Pozza, said.

On Wednesday, Pozza advised the judge that the sale is getting closer. "The current (potential) buyer is still interested" at a price of $535,000, Pozza told Warren.

"I would like to see a hard offer from your potential buyer" at the next court appearance, Warren replied, to which Pozza agreed.

Outside the courtroom, Pozza said Delvacchio has only made a "good faith" repayment of $200 thus far. But authorities have already seized about $125,000 cash from his client, along with some other property.

Delvacchio currently still owes $499,470 in restitution in this case, Pozza said, plus roughly another $72,000 in taxes.

So, considering the equity Delvacchio has in his home, even if the pending sale goes through, the amount won't completely cover what he has left to pay back, Pozza said.

Delvacchio's defense attorney said there are some other things in place financially to help offset that issue.

Delvacchio, who is no longer in custody, was ordered to return before Warren on Feb. 2.

Contact staff writer John Hall at (951) 676-4315, Ext. 2628, or jhall@californian.com.