Norwalk Bookkeeper Sentenced To Prison In Federal Fraud Case

NORWALK, CT — A 53-year-old bookkeeper from Norwalk, who was accused of embezzling more than $415,000 from clients, was sentenced Friday to eight months in prison, followed by two years of supervised release, in connection with the fraud case, announced United States Attorney John H. Durham.

Penni Sherman, also known as Penni Parker, was sentenced by U.S. District Judge Michael P. Shea in Hartford. The first two months of Sherman's sentence will be served under supervised home confinement, Judge Shea ordered.

According to court documents and statements, Sherman operated PSP Accounting & Bookkeeping, which provided bookkeeping services to area businesses. Between 2011 and 2018, Sherman stole a total of $418,197.09 from clients and used the money for personal expenses, such as paying her own credit card bills and salon services, among other expenses, according to prosecutors.

Sherman stole more than $396,000 from one of her small business clients, and when that person confronted her about the embezzlement, Sherman returned $165,920 to the victim, according to prosecutors.

"Sherman failed to report the embezzled funds, and certain other business receipts, on her federal income tax returns, resulting in a loss of $125,167 to the Internal Revenue Service," prosecutors said.

Last October, Sherman pleaded guilty to one count of wire fraud and one count of making and subscribing a false tax return.

Judge Shea ordered Sherman to pay restitution of $252,277.09 to the victims of her fraud, and $125,167 in back taxes, plus applicable interest and penalties, to the IRS.

Sherman, who has been free on bond, is required to report to prison on August 13, 2021.

This matter was investigated by the Internal Revenue Service – Criminal Investigation Division and U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI). This case was prosecuted by Assistant U.S. Attorney Jennifer R. Laraia.