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Defendant Admits to $1.5M Embezzlement, Faces Up to 20 Years in Prison
A Fairfield woman is facing serious consequences after admitting to embezzling $1.5 million from her employer. Carolina Guerreno, 49, of Fairfield, waived her right to be indicted and pleaded guilty to wire fraud in Hartford federal court.
Guerreno, who served as the Chief Financial Officer of a financial services company in Shelton, had access to her employer’s bank accounts and was allowed to initiate financial transactions. However, from January 2019 to February 2021, she stole $1,532,207.24 by altering company financial transactions and directing electronic payments to her credit card accounts, personal bank accounts, and a home equity line of credit.
As part of her job responsibilities, Guerreno had the authority to wire company funds to other bank accounts. However, she abused this power to line her own pockets, leaving her former employer with a significant financial loss.
Guerreno pleaded guilty to one count of wire fraud, an offense that carries a maximum term of imprisonment of 20 years. Judge Michael P. Shea scheduled sentencing for November 28.
The case is being investigated by the U.S. Secret Service, the Wallingford Police Department, and the Connecticut Financial Crimes Task Force. Assistant U.S. Attorney Ray Miller is handling the prosecution.
Guerreno is released on a $50,000 bond pending sentencing. Her admission to the crime marks a significant development in the case, and it remains to be seen what consequences she will face in the coming months.
The embezzlement scheme was uncovered by Guerreno’s former employer in February 2021, bringing an end to her illicit activities. The exact extent of the financial damage caused by Guerreno’s actions is still being assessed.
Key Facts
- State: Connecticut
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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