Director of Finance at Local Company Admits to Embezzlement

St. Louis, MO – James Guccione, 51, of St. Louis County pleaded guilty to wire fraud this afternoon before Chief Judge Rodney Sippel in St. Louis. 

According to his plea agreement, Guccione admitted to a fraud scheme whereby he ordered computer hardware and software through his employer and converted the equipment to his own use.  Additionally, Guccione admitted to falsifying reimbursement requests from his employer which were directed into his personal bank account.  As Director of Finance, Guccione admitted he abused a position of trust in the execution of the fraud scheme.  Guccione did not agree to a particular amount of loss but the U.S. Attorney’s Office contends more than $331,000 was taken during the scheme.

Judge Sippel accepted Guccione’s plea and deferred sentencing until December 21, 2018.  The maximum penalty for wire fraud is 20 years’ imprisonment, a fine of $250,000 or both.  Restitution to the victim is also mandatory. 

The case was investigated by the Clayton Police Department with assistance from the St. Louis County Prosecuting Attorney’s Office.  Tom Albus is handling the case for the U.S. Attorney’s Office.