Shelton Woman Admits Embezzling $260K from Employer
For Immediate Release
U.S. Attorney's Office, District of Connecticut
John H. Durham, United States Attorney for the District of Connecticut, and Brian C. Turner, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, announced that BARBARA J. BUCHANAN, 60, of Shelton, waived her right to be indicted and pleaded guilty today before U.S. District Judge Janet Bond Arterton in New Haven to one count of wire fraud stemming from an embezzlement scheme.
According to court documents and statements made in court, Buchanan was the payroll manager for a Connecticut company. Between approximately 2014 and September 2019, Buchanan made false entries and adjustments in the payroll system in order to wire company funds into her personal bank account. She also made false journal entries in the company’s tax records in an effort to hide her fraudulent activities. Through the scheme, Buchanan embezzled approximately $220,000 from the company.
Buchanan also used a company American Express card to make approximately $40,000 in personal purchases.
Judge Arterton Scheduled sentencing for June 5, 2020, at which time Buchanan faces a maximum term of imprisonment of 20 years. Buchanan has agreed to pay restitution of $260,202.52
Buchanan is released on a $100,000 bond pending sentencing.
This investigation is being conducted by the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorney Michael S. McGarry.
Updated March 11, 2020