Guilty plea in embezzlement scheme

Written by John Kovach
Friday, 06 November 2009 12:34

A Stratford man could face 100 years in prison after pleading guilty to an embezzlement scheme.

Nora R. Dannehy, United States Attorney for the District of Connecticut, announced Thursday that Steven DeCecco, 51, pleaded guilty before United States District Judge Janet C. Hall in Bridgeport to an indictment charging him with one count of conspiracy to commit wire fraud, three counts of wire fraud, and two counts of interstate transportation of stolen property.

According to court documents and statements made in court, DeCecco and Jaime Hoff were involved in a scheme to embezzle from their former employer, a Stratford company.

Prosecutors said DeCecco and Hoff directed hundreds of unauthorized wire transfers from their employer’s bank accounts to their own accounts and to third parties for DeCecco’s benefit.

DeCecco was the corporate controller and was in charge of the company’s accounting functions, and Hoff was responsible for performing accounts payable functions and bank reconciliation. The two defendants used these positions to disguise their scheme over a period of two years.

According to Dannehy, prosecutors believe that the defendants embezzled more than $2.5 million, and that DeCecco used a large portion of the stolen funds to purchase numerous vintage and high-end classic cars.

Sentencing is scheduled for Jan. 22, at which time DeCecco faces a maximum term of imprisonment of 20 years on each count of wire fraud and conspiracy to commit wire fraud, and a maximum term of imprisonment of 10 years on each count of interstate transportation of stolen property.

Hoff, 29, of the Oakville section of Watertown, pleaded guilty Oct. 8 to one count of wire fraud stemming from her role in the scheme. She awaits sentencing.

The case was investigated by the Connecticut Financial Crimes Task Force, including the United States Secret Service and Stratford Police. In addition to the Secret Service, the Task Force also includes members from the United States Postal Inspection Service, the United States Department of State Bureau of Diplomatic Security, Connecticut State Police, and the Greenwich, Manchester and New Haven police departments.

The case was prosecuted by Assistant U.S. Attorney Paul Murphy.