Found the solution here: http://mohamednabeel.blogspot.com/2009/10/fixing-font-not-embedded-issue-to-pass.html
Issue #2: Font Times-Italic, Times-Roman, Times-BoldItalic, Times-Bold, Helvetica, Courier is not embedded.
You
 can see what fonts are embedded and what are not, by using "pdffont 
file.pdf" and looking at the "emb" column. In our case, it did show that
 some fonts are not embedded.
Fix: We searched the Internet [1, 2]and
 found that in order to fix this (i.e. to embed all the required fonts) 
we need to do the conversion from tex to  pdf in two stages. This is a 
dirty hack; but it works.
latex file.tex
bibtex file
latex file.tex
latex file.tex (Now we have file.dvi)
dvips -Ppdf -G0 -tletter file.dvi (Now we have file.ps)
ps2pdf -dCompatibilityLevel=1.4 -dPDFSETTINGS=/prepress file.ps file.pdf (Now we have file.pdf)
