Former Chief Financial Officer of a Shelton-based financial services company, Carolina Guerreno, 50, of Fairfield, has been sentenced to 24 months in federal prison for her role in a $1.5 million embezzlement scheme.
Guerreno pleaded guilty on August 30, 2022, to one count of wire fraud, admitting to siphoning funds from her employer’s bank accounts over a period of nearly two years. The investigation revealed that Guerreno used the stolen funds to pay for luxurious personal expenses including home improvements, high-end furnishings, and a luxury vehicle.
According to court documents, Guerreno served as CFO and had access to company financials, which she exploited by altering transactions and directing payments to her own accounts. The fraud was detected when the employer noticed irregularities in their bank statements in February 2021.
Judge Michael P. Shea also ordered Guerreno to repay the remaining balance of $1,132,207.24 to her employer. As of now, Guerreno has repaid approximately $400,000.
U.S. District Judge Shea emphasized that full restitution was mandatory and highlighted the impact of white-collar crimes on businesses and employees.
The investigation into Guerreno’s embezzlement was a collaborative effort between the U.S. Secret Service, the Wallingford Police Department, and the Connecticut Financial Crimes Task Force. Assistant U.S. Attorney Ray Miller prosecuted the case.
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Key Facts
- State: Connecticut
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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