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Press Release

Fairfield Woman Sentenced to 2 Years in Federal Prison for Embezzling $1.5 Million

For Immediate Release
U.S. Attorney's Office, District of Connecticut

Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that CAROLINA GUERRENO, 50, of Fairfield, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to 24 months of imprisonment, followed by two years of supervised release, for embezzling approximately $1.5 million from her employer.

According to court documents and statements made in court, Guerreno served as the Chief Financial Officer of a financial services company located in Shelton.  As part of her job responsibilities, she had access to her employer’s bank accounts and was allowed to initiate financial transactions, including wiring company funds to other bank accounts.  From January 2019 and continuing until her fraud was detected by the company in February 2021, Guerreno stole $1,532,207.24 by altering company financial transactions and directing electronic payments from her employer’s bank account to her credit card accounts, her personal bank accounts, and to pay her home equity line of credit.  Guerreno used the stolen funds for home improvements, furniture, a luxury automobile, European vacations, a time-share condominium at a Vermont ski resort, jewelry, to pay off her home mortgage, and to fund her children’s college savings accounts.

Judge Shea ordered Guerreno to make full restitution.  To date, Guerreno has repaid her employer approximately $400,000.

On August 30, 2022, Guerreno pleaded guilty to one count of wire fraud.

This matter was investigated by the U.S. Secret Service, the Wallingford Police Department and the Connecticut Financial Crimes Task Force.  The case was prosecuted by Assistant U.S. Attorney Ray Miller.

Updated February 8, 2023

Financial Fraud