NORWALK, Conn. -- A Norwalk man was sentenced to two years in prison for embezzlement and tax evasion charges after he stole more than $800,000 from his employer's companies, according to Deirdre M. Daly, United States Attorney for the District of Connecticut.
Mark W. Errico, 64, of Norwalk was sentenced to 24 months of imprisonment followed by three years of supervised release on Thursday.
According to court documents, for approximately 20 years Errico worked for the owner of two companies located in Norwalk, handling the companies' finances including payroll, bank accounts, accounts payable and accounts receivable. Between February 2011 and March 2014, Errico embezzled approximately $823,476.22 from the two companies, according to Daly.
Errico transferred stolen funds from the companies' accounts to pay his personal credit card debts, and also forged the signature of his employer on company checks and cashed them or made them payable to his own company, and deposited them into his company's business account, Daly said. For the 2011 through 2014 tax years, Errico attempted to evade paying federal taxes on $851,076.22 of unreported income, which resulted in a total tax loss of $265,326.
Upon his sentencing, Errico was ordered to pay $649,346.09 in restitution to the two companies from which he stole, as well as $265,326 in back taxes, plus penalties and interest, to the IRS.
Errico pleaded guilty on April 24 to one count of interstate transportation of money obtained by fraud, and one count of tax evasion. He is released on bond, and ordered to report to prison on Oct. 18.
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