NEW HAVEN, Conn. (WTNH) – A West haven man who U.S. District of Connecticut Attorney says embezzled more than 4100,000 in funds from the bank where he worked, as been sentenced.
Prosecutors say 37-year-old Stephen DeCrescenzo stole $106,028 in funds from JP Morgan Chase Bank in New Canaan. Prosecutors say he took the money between September 2008 and November 2011 from customer accounts. Police say DeCrscenzo transferred the funds into a separate customer account that he had access to. They say he disguised it all as authorized cash withdrawals by customers. He’s also charged with wiring funds stolen from a customer account into another bank account for his personal benefit.
DeCrescenzo pleaded guilty to one count of wire fraud and has been ordered to pay full restitution.
U.S. District Judge Janet Bond Arterton sentenced DeCrescenzo to one day of jail, six months in community confinement and three years of supervised release.