Defendant Pleads Guilty to Embezzlement and Tax Evasion Offenses
Mark W. Errico, 64, of Norwalk, Connecticut, has pleaded guilty to federal embezzlement and tax evasion offenses.
Defendant’s Crimes
According to court documents and statements made in court, Mark W. Errico worked for the owner of two companies located in Norwalk, handling the companies’ finances, including payroll, bank accounts, accounts payable and accounts receivable.
Between approximately February 2011 and March 2014, Errico embezzled approximately $823,476.22 from the two companies. Errico transferred stolen funds from the companies’ accounts to pay his personal credit card debts, and also forged the signature of the companies’ owner on company checks and cashed them or made them payable to his own company and deposited them into his company’s business account.
For the 2011 through 2014 tax years, Errico attempted to evade paying federal taxes on $851,076.22 of unreported income, which resulted in a total tax loss of $265,326.
Defendant’s Penalties
Errico pleaded guilty to one count of the interstate transportation of money obtained by fraud and one count of tax evasion.
Judge Underhill scheduled sentencing for July 17, 2017, at which time Errico faces a maximum term of imprisonment of 15 years.
Errico also has agreed to pay $654,546.09 in restitution to the two companies from which he stole money, and he is obligated to pay $265,326 in back taxes, plus penalties and interest, which continue to accrue.
Investigation and Prosecution
This matter is being investigated by the Internal Revenue Service – Criminal Investigation Division, U.S. Secret Service and Connecticut Financial Crimes Task Force.
This case is being prosecuted by Assistant U.S. Attorney Peter S. Jongbloed.
Key Facts
- State: Connecticut
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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