NORWALK, Conn. – Norwalk resident Thomas Turey, 64, waived his right to indictment and pleaded guilty Thursday to one count of wire fraud for embezzling $3.4 million from the Stamford-based firm where he was controller for many years, Acting Connecticut U.S. Attorney Deirdre M. Daly said.
Turey, who worked at the market research firm Rothstein-Tauber Inc. for 18 years, made the guilty plea before U.S. Magistrate Judge Holly B. Fitzsimmons in Bridgeport. He faces a maximum prison term of 20 years when sentenced in August. He has been free since posting a $300,000 bond after his arrest Feb. 14.
As controller, Turey’s responsibilities included aggregating the company’s monthly revenue and expense results, managing the company’s accounts receivable, performing financial analysis and reporting, and overseeing the company’s bookkeeper, according to Daly. Turey also was responsible for the company’s general ledger and was in charge of conducting the company’s bank reconciliations.
From August 2005 to January 2013, Turey embezzled $3,462,435 from the company by writing checks to himself or to a fictitious entity for his personal benefit, deposited those funds into bank accounts he controlled, Daly said. She added that Turey made numerous false entries in the company’s books and records to conceal this scheme.
The majority of the embezzled funds were subsequently transferred into Turey’s online brokerage account. At the time of his arrest, he was believed to have embezzled about $1.2 million, but authorities discovered he had taken more money.
Turey is scheduled to be sentenced by U.S. District Judge Janet C. Hall in New Haven on Aug. 20.
The case was investigated by the FBI and prosecuted by Assistant U.S. Attorney Paul A. Murphy.
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