Giovanni Masucci, Wire Fraud, Connecticut 2014

GIOVANNI MASUCCI, 44, of Woodbridge, was sentenced to 51 months of imprisonment, followed by three years of supervised release, for stealing more than $1 million from a Milford company.

According to court documents and statements made in court, MASUCCI operated a financial consulting business in North Haven. As part of his business, he provided financial consulting services to a company located in Milford and had access to the company’s checkbooks and financial ledgers.

From approximately September 2011 to February 2014, MASUCCI defrauded the Milford company by diverting company funds to his own bank account. He also wrote checks from the company’s bank account to pay his personal credit card bills and the credit card bills of a personal acquaintance.

As part of the scheme, MASUCCI created false entries in the corporate check ledger that falsely indicated the checks were written for legitimate business purposes, and he typically forged the signature of the authorized company representative on the checks. In order to conceal his crime, MASUCCI took the company’s check book.

The investigation revealed that MASUCCI used the stolen funds to pay for domestic and international travel, lodging, and to make purchases at several high-end retailers.

Judge Meyer ordered MASUCCI to pay restitution of at least $1.16 million. A final restitution order will be issued after further court proceedings.

MASUCCI was arrested on July 13, 2014. On November 13, he pleaded guilty to one count of wire fraud.

This matter was investigated by the Connecticut Financial Crimes Task Force, the United States Secret Service and the Greenwich Police Department. The case was prosecuted by Assistant U.S. Attorney Ray Miller.

Related Federal Cases