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Stratford Woman Admits to Embezzling $1.1m from Greenwich Employer

Claire Balducci, 46, faces a maximum term of imprisonment of 20 years.

The following is based on a press release from David B. Fein, United States Attorney for the District of Connecticut.

A 46-year-old Stratford woman waived her right to indictment and pleaded guilty today to one count of wire fraud related to her embezzlement of more than a million dollars from her Greenwich employer.

Claire Balducci of James Farm Road worked as the office manager for a private investment company based in Greenwich, according to court documents and statements made in court.

As office manager, she had access to six business bank accounts. Between approximately Sept. 2008 and Nov. 2011, Balducci issued numerous checks from the firm's business accounts payable to herself, to "cash" and to third-party vendors, all of which she deposited in her personal bank account.

Balducci also opened a credit card account in the name of the managing partner of the victim company and authorized herself as a co-user of the account. She then made unauthorized charges for personal expenses on the account. Through these schemes, Balducci embezzled approximately $1.1 million.

The Stratford woman is scheduled to be sentenced on March 6, 2013, at which time she faces a maximum term of imprisonment of 20 years.

Following her guilty plea, Balducci was released on a $250,000 bond into home confinement under electronic monitoring by the United States Probation Office.

This investigation has been conducted by the Greenwich Police Department and the Connecticut Financial Crimes Task Force, which includes members of the United States Secret Service; the United States Postal Inspection Service; the United States Department of State, Bureau of Diplomatic Security; the Internal Revenue Service -- Criminal Investigation; the Connecticut State Police; and the Greenwich, Hartford, Shelton and Stamford Police Departments. This case is being prosecuted by Assistant United States Attorney Douglas P. Morabito.

re26 December 12, 2012 at 09:17 PM
If guilty: likely 18 months and restitution.
karen December 12, 2012 at 10:11 PM
Restitution AND the cost of all various Task and police force costs incurred with the investigation. Then Jail. I am tired of paying taxes and having them go to investigate other people's crimes. I also think those in jail should NEVER get paid, but have to do work to offset their room and board, etc. Taxes are best spent on infrastructure issues, parks, education and worthwhile things... not babysitting lowlifes in jail who break the rules at will. Bah.
Rook4 December 13, 2012 at 10:12 AM
if the investigators have not located the money embezzled, not likely restitution will ever happen. this is more a lesson for employers who think they can hire unqualified people and put them in positions they do not belong. This is just as much a reflection of the Company's inadequate hiring practices as it is Claire's poor judgement.

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