Michael Meakem, Embezzlement, Connecticut 2021

Former CEO of Connecticut Non-Profit Caught Red-Handed in $683K Embezzlement Scheme

GRIMY TIMES EXCLUSIVE

A shocking case of corporate greed has unfolded in Connecticut, where the former CEO of a non-profit organization has pleaded guilty to embezzling a staggering $683,202.

According to court documents and statements made in court, MICHAEL MEAKEM, 59, of Norwich, waived his right to be indicted and pleaded guilty today in New Haven federal court to one count of wire fraud stemming from an embezzlement scheme.

Meakem, the president and chief executive officer of the Center for Financial Training (“CFT”), a Farmington-based non-profit organization, embezzled funds from CFT’s credit card accounts and bank accounts over a period of approximately seven years, from 2013 to 2020.

During this time, Meakem used the stolen funds on personal expenses, including alimony payments, meals, cruises, other vacations, and gambling at Connecticut’s casinos. The extent of Meakem’s greed is jaw-dropping, with the embezzled funds totaling $683,202.

The case was investigated by the Federal Bureau of Investigation, with assistance from the Norwich Police Department. Assistant U.S. Attorney Jonathan N. Francis is prosecuting the case, with Law Student Intern Clio Koller representing the government at today’s hearing.

Meakem was ordered released on a $100,000 bond pending sentencing, which is scheduled for August 3, 2021. Wire fraud carries a maximum term of imprisonment of 20 years.

As Meakem awaits his fate, the community is left to wonder how such a heinous crime could have gone undetected for so long. The embezzlement scheme has left a scar on the reputation of the Center for Financial Training, a non-profit organization that prided itself on providing continuing education to employees in the financial services industry.

Meakem’s actions are a stark reminder of the importance of accountability and transparency in the corporate world. As Grimy Times continues to investigate this developing story, one thing is clear: justice will be served.

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