Thursday, March 12, 2009

Connecticut Accountant Sentenced To 37 Months For Embezzling $1.5 Million From 2 Companies

Noel Desingco Lara, 41, of Westport, Connecticut, was sentenced to 37 months in prison for embezzling some $1.5 million over a 2 year period from two different companies he worked for as an accountant handling payroll and client escrow accounts. Lara was also ordered to pay full restitution to both companies. The two companies have been revealed to be MUUS Asset Management of Westport and Octagon of Norwalk. Lara was originally arrested in May 2008 and pleaded guilty to one count of interstate transportation of money obtained by fraud on July 31, 2008. Reports indicate that Lara used the stolen money to purchase personal items such as designer watches and clothing, as well as to finance payments to motor vehicle companies and made investments in stocks.

Read the story here, here and here.

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