Norwich Man Sentenced In $700,000 Federal Embezzlement Case

NORWICH, CT — A 59-year-old Norwich man was sentenced to 24 months in prison, followed by two years of supervised release and financial penalties, in connection with a nearly $700,000 federal embezzlement case, according to Acting U.S. Attorney Leonard C. Boyle.

Michael Meakem was sentenced Tuesday by U.S. District Judge Michael P. Shea in Hartford. In addition to the prison sentence and supervised release order, Meakem also must pay a $100,000 fine, and $683,202 in restitution for embezzling from his former employer.

According to court documents and statements, Meakem, the former president and chief executive officer of the Center for Financial Training in Farmington, was accused of embezzling $683,202 from the non-profit organization from 2013 to 2020. The company provides continuing education to employees in the financial services industry.

He was accused of taking the money from the company's credit card accounts and bank accounts, and he used the funds on personal expenses, including alimony payments, meals, cruises, other vacations, and gambling at Connecticut's casinos.

Meakem pleaded guilty in late April to one count of wire fraud.

He is currently free on a $100,000 bond, and is required to report to prison on Oct. 1.

This investigation was conducted by the Federal Bureau of Investigation. The case was prosecuted by Assistant U.S. Attorney Jonathan N. Francis.