Former councilman spared prison in wire fraud conviction

NEW HAVEN, Conn. (AP) — A former West Haven city councilman and banker who stole money to support a gambling problem has been spared prison time.

The New Haven Register reports that Stephen DeCrescenzo was sentenced Tuesday in U.S. District Court in New Haven to three years’ probation.

The 38-year-old DeCrescenzo pleaded guilty in November to wire fraud.

He was ordered to participate in a gambling treatment program and refrain from gambling.

DeCrescenzo was fired as a personal banker at JPMorgan Chase Bank in New Canaan after his employer discovered the theft, which occurred from 2008 to 2011. The bank lost $106,028 and DeCrescenzo must make restitution.

He apologized to his employer, family and friends. He said he believes he’s a “good person who made a terrible decision” costing him his job, financial security and marriage.


Information from: New Haven Register,

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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