Man Sentenced to Prison, Ordered to Repay Milford Business $1.16M in Stolen Money

A 44-year-old Woodbridge man was sentenced in federal court Tuesday to four years and three months in prison for strealing more than a million dollars from a Milford company, the U.S. Attorney’s Office for Connecticut announced.

Giovanni Masucci, also known as John Masucci, had a financial consulting business in North Haven. As part of that work, he provided consulting services to a Milford company. That gave Masucci access to the company’s checkbooks and financial records, which he used essentially like his own piggy bank.

From September 2011 to February 2014, Masucci diverted the company’s funds to his own bank account and wrote checks from the company’s bank account to pay his personal credit card bills and the credit card bills of someone identified as a “personal acquaintance.”

Masucci created false entries in the corporate check ledger, misleadingly indicating the checks were written for legitimate business reasons. He would typically forge the signature of an authorized company employee on the checks. Masucci also took the company’s checkbook to help cover up his thieving.

The loot was used to pay for domestic and international travel, hotels and purchases at several high-end retailers.

U.S. District Judge Jeffrey A. Meyer, sitting in Bridgeport federal court, ordered Masucci to pay at least $1.16 million in restitution to the business, but a final order regarding restitution is expected to be issued only after more court proceedings.

Masucci, arrested on July 13, 2014, pleaded guilty on Nov. 13 to one count of wire fraud.