Fairfield Woman Sentenced In Federal $1.5 Million Embezzlement Case

FAIRFIELD, CT — Carolina Guerreno, a 50-year-old Fairfield resident, was sentenced Wednesday to two years in prison, followed by two years of supervised release, for embezzling approximately $1.5 million from her unnamed financial services employer, announced United States Attorney Vanessa Roberts Avery.

Guerreno was sentenced by U.S. District Judge Michael P. Shea in Hartford, after she pleaded guilty last year to one count of wire fraud.

According to court documents and statements, Guerreno was the Chief Financial Officer of the financial services company, which is 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, according to prosecutors.

She directed those 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, and used the stolen funds for:

• home improvements
• furniture
• a luxury automobile
• European vacations
• a time-share condominium at a Vermont ski resort
• jewelry
• paying off her home mortgage
• funding her children’s college savings accounts

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

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.