Partner In Liquor Store Businesses Admits Embezzling More Than $300,000
Deirdre M. Daly, Acting United States Attorney for the District of Connecticut, announced that PETER TURNER, 57, of Burlington, waived his right to indictment and pleaded guilty today before U.S. Magistrate Judge William I. Garfinkel in Bridgeport to one count of wire fraud stemming from an embezzlement scheme.
According to court documents and statements made in court, TURNER is the managing partner of Two Buck Ring, LLC, a nine-member LLC that is the majority stake holder of The Bridge Fine Wine Spirits & Beer in New Milford. He also is a member of Spirited Endeavor, LLC, a 13-member LLC that does business as Town Line Fine Wine, Spirits & Beer in Stratford. As managing partner of Two Buck Ring (“TBR”), TURNER was responsible for the day-to-day operation of The Bridge Fine Wine Spirits & Beer and had access to the TBR business accounts.
Between November 2010 and February 2012, TURNER, without the authority of other TBR members, wrote numerous checks from the TBR business accounts to himself and used the money for various personal expenses. TURNER also prepared and disseminated to investors a fraudulent ledger in an effort to conceal his fraud.
Through this scheme, TURNER embezzled approximately $322,500.
TURNER is scheduled to be sentenced by U.S. District Judge Michael P. Shea in on January 14, 2014 in Hartford, at which time he faces a maximum term of imprisonment of 20 years and a fine of up to $645,000.
This investigation is being conducted by the Connecticut Financial Crimes Task Force, which includes members of the U.S. Secret Service, U.S. Postal Inspection Service, U.S. Department of State, Bureau of Diplomatic Security, Internal Revenue Service – Criminal Investigation, Connecticut State Police, and the Greenwich, Hartford, Stamford, Shelton and Stratford Police Departments. Acting U.S. Attorney Daly specifically recognized the efforts of the Greenwich Police Department for its assistance in the investigation and prosecution of this matter.
This case is being prosecuted by Assistant U.S. Attorney Douglas P. Morabito.
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