Christina Iannelli, Bank Fraud, Massachusetts 2022

A former bookkeeper for a Lexington interior design firm has pleaded guilty to bank fraud charges in connection with the embezzlement of over $180,000 from her former employer in Massachusetts.

Christina Iannelli, 51, of Sudbury, pleaded guilty to seven counts of bank fraud. She was arrested and charged in March 2022.

According to the investigation, Iannelli prepared dozens of fraudulent invoices with inflated totals derived from inaccurate math, and then issued herself checks for the inflated amounts due from the firm’s checking account. In addition, Iannelli issued herself dozens of unauthorized checks using a signature stamp in the name of the firm’s owner.

To conceal the fraudulent payments, Iannelli made false entries in the firm’s accounting records. In total, Iannelli embezzled over $30,000 through inflated compensation checks and over $150,000 through additional unauthorized checks.

The charge of bank fraud provides for a sentence of up to 30 years in prison, five years of supervised release and a fine of $1 million. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

Sentencing for Iannelli is scheduled for March 14, 2024. Acting United States Attorney Joshua S. Levy, Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, and Lexington Police Chief Michael McLean made the announcement today. Valuable assistance was provided by the Sudbury Police Department. Assistant U.S. Attorney James R. Drabick of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.

Defendant: Christina Iannelli

Criminal Charges: Seven counts of bank fraud

City and State: Lexington, Massachusetts

Date: March 2022 (arrest), March 14, 2024 (sentencing)

Sentence: Up to 30 years in prison, five years of supervised release, and a fine of $1 million

Dollar Amounts: Over $180,000 embezzled from former employer, over $30,000 through inflated compensation checks, and over $150,000 through unauthorized checks

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