Thursday, May 31, 2012

Connecticut Man Strikes Plea Agreement In $458K Embezzlement Case

Athanasios "Tom" Louizis, 36, of Bridgeport, Connecticut has reached a plea agreement with prosecutors by pleading guilty to a single count of first-degree larceny in connection with his embezzlement of more than $458,000 from Barden Corp. where he had handled procurements through a third party, Industrial Distribution Group.  According to authorities, over a period of more than 4 years, from February 2004 to June 2008, Louizis created fraudulent purchase orders for electrical wires and drills, which he then sold to electrical contracting and industrial supply companies in Stamford and Norwalk at a "60 percent" discount.  Louizis was originally arrested in 2010 and charged with four counts of first-degree larceny. 

Read the story here and here.

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