Former bank teller Michelle Laudato, 36, of Farmington, Connecticut, was sentenced to 12 months and 1 day in prison for stealing $178,710.89 from CD accounts at Webster Bank in Bristol. Laudato pleaded guilty to one count of bank fraud on June 18, 2013.
According to court documents, from July 2009 to June 2010, Laudato used her position as a teller supervisor to steal money from the CD accounts of at least 18 bank customers. Thirteen of the 18 customers were between the ages of 79 and 99.
Laudato would sometimes withdraw funds from certain CD accounts to replace funds in the CD accounts she had previously accessed. She also withdrew funds in increments of $10,000 or less to avoid currency transaction reporting requirements.
Laudato was ordered to pay full restitution to Webster Bank. In addition, Judge Alvin W. Thompson ordered Laudato to perform 100 hours of community service during her term of supervised release, in activities that specifically benefit the elderly.
Laudato is set to report to prison on February 25, 2015. The matter was investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Felice M. Duffy.
Webster Bank customers who lost money to Laudato’s scheme will receive full restitution. Laudato’s case serves as a reminder of the importance of trust and transparency in the banking industry.
Related Federal Cases
- Jamila Williams-Stevenson, Bank Fraud and Aggravated Identity Theft, Connecticut 2024 · Washington
- Mohsen Youssef, Bank Fraud, Connecticut 2015 · Colorado
- Robert Terry Bruce, Wire Fraud, Connecticut 2016 · Washington
- Ian Parker Bick, Wire Fraud and Money Laundering, Connecticut 2015 · Rhode Island
- Thomas Recck, Wire Fraud, Connecticut 2015 · Washington
Key Facts
- State: Connecticut
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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