Norwalk Woman Enters Plea In Federal Embezzlement Case

NORWALK, CT — A 52-year-old Norwalk woman and bookkeeper Friday waived her right to be indicted and pleaded guilty in Bridgeport federal court to fraud and tax offenses stemming from an embezzlement scheme, announced United States Attorney John H. Durham.

Penni Sherman, also known as Penni Parker, operated PSP Accounting & Bookkeeping, and between 2011 and 2018, she stole a total of $418,197.09 from clients, according to court documents.

Sherman used the funds to pay her own credit card bills and to cover other personal expenses, including salon services, prosecutors said.

"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," said Durham in a statement.

Sherman pleaded guilty to one count of wire fraud, which carries a maximum prison term of 20 years, and one count of making and subscribing a false tax return, which carries a maximum prison term of three years.

As part of her plea agreement, Sherman has agreed to make full restitution to victims and to the IRS. She has already returned $163,730 to one of her victims, from whom she had stolen more than $396,000.

Sherman is currently free on bond pending sentencing, which has not yet been scheduled.

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