FORMER SWANSEA COUPLE SENTENCED IN $600,000 EMBEZZLEMENT FROM
BOSTON, Sept. 30 /PRNewswire/ -- A former employee of the Durfee- Attleboro Bank and the Multibank Service Center in Dedham, Mass. was sentenced yesterday in federal court, along with her husband, for embezzling more than $600,000 from the bank over a four-year period, from 1984 to 1988.
U.S. Attorney A. John Pappalardo announced that Irene Saccucci, 40, and Steven E. Saccucci, 43, formerly of Swansea, Mass., and now residents of 8731 Kenmure Cove, Brentwood Club, Orlando, Fla., were sentenced by U.S. District Judge A. David Mazzone for their respective roles in a long-running embezzlement scheme. Irene Saccucci, the bank employee who planned and carried out the embezzlement, was sentenced to 21 months in prison and ordered to pay restitution to the bank in the charged amount of over $630,000. Steven E. Saccucci, who assisted in the scheme by permitting his wife to process embezzled funds through his business account, was sentenced to 5 years probation, and ordered, along with his wife, to pay back to the bank the embezzled amount. The Saccuccis had previously pled guilty to multiple counts of the grand jury indictment charging them with embezzlement.
The Saccuccis admitted to the following facts concerning the embezzlement scheme. Irene Saccucci was employed by Durfee Attleboro Bank and subsequently Multibank Service Center, a wholly-owned subsidiary of Multibank Financial Corporation of Dedham, during the period 1984 - 1991. Throughout that period, Irene Saccucci managed an automated payroll account, whereby the bank, as a service, would issue payroll checks for participating business customers. According to papers filed by the Saccuccis in connection with their sentencing, Irene Saccucci began to embezzle sums of money from the payroll account in order to pay household expenses. Irene Saccucci accomplished the embezzlement by diverting funds from the payroll account she managed to an account established by Steven Saccucci at the Durfee Attleboro Bank under the name of "Awesome Racing," a sole proprietorship of Steven Saccucci. After the funds were moved from the payroll account to the Awesome Racing account, the Saccuccis would move the funds by means of personal checks to their joint checking account at the Bank of New England, now Fleet Bank. The Saccuccis embezzled increasing amounts over time, taking over $100,000 per year 1986 and 1987, and $80,000 in 1988, before ceasing the embezzlement in April of that year.
In sentencing Irene Saccucci to 21 months in prison, Judge Mazzone rejected the arguments of her defense counsel that her responsibilities to her three children, ages 18, 17, and 10, entitled her to special treatment. Judge Mazzone also found that Irene Saccucci abused a position of special trust in the bank in carrying out the embezzlement scheme, and then concealing it from bank officials for more than three years after she stopped taking money.
The case was investigated by Special Agents of the Federal Bureau of Investigation and was prosecuted by Assistant U.S.A. Clayton Spencer of Pappalardo's Major Crimes Unit.
CONTACT: Press Officer, U.S. Attorney's Office, 617-223-9445 ST: MA -- NE019 -- X780 09/30/92