A Fairfield man has been sentenced to 4 years in prison for his role in a decade-long embezzlement scheme that netted him over $7.4 million.
JAMES BLOSE, 56, was sentenced by U.S. District Judge Robert N. Chatigny to 48 months of imprisonment, followed by three years of supervised release, for his crimes.
Blose, who served as General Counsel and held other high-ranking positions at Hudson Valley Bank, Sterling National Bank, and Webster Bank, defrauded his employers by retaining portions of closing costs and sale proceeds for himself.
He also used his attorney trust accounts to make personal expenditures and transfer funds to business entities he controlled, which he then used for his personal benefit.
The scheme, which lasted from approximately 2013 to February 2023, saw Blose use the stolen funds to purchase a vacation property, construct his Connecticut home, and buy luxury vehicles, jewelry, and private jet charters.
Blose pleaded guilty to one count of bank fraud and one count of engaging in illegal monetary transactions on December 20, 2024.
The investigation into Blose’s crimes was conducted by the Federal Bureau of Investigation, the Internal Revenue Service – Criminal Investigation, and the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection’s Office of the Inspector General.
Blose is currently out on a $250,000 bond and is required to report to prison on June 23.
Related Federal Cases
- De Leon Lucas, Wire Fraud, New York 2009 · Connecticut
- Intelligent Military, Wire Fraud, New York 1996 · Connecticut
- JAMES KEATING, Wire and Kickback Fraud, Connecticut 2023 · Connecticut
- MAVANI COLEMAN, Bank Fraud, Connecticut 2024 · Connecticut
- Bradford Barnays, Mail and Wire Fraud, Connecticut 2024 · Connecticut
Key Facts
- State: Connecticut
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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