Connecticut Bookkeeper Sentenced for Embezzling from Employer

David B. Fein, United States Attorney for the District of Connecticut, announced that PETER C. YARASAVICH, 41, of Milford, was sentenced today by United States District Judge Robert N. Chatigny in Hartford to 15 months of imprisonment, followed by three years of supervised release, for embezzling nearly $150,000 from a Stamford company. Judge Chatigny also ordered YARASAVICH to spend the first six months of his supervised release in home confinement.

According to court documents and statements made in court, YARASAVICH worked as a temporary employee at M2 Products, Inc. of Stamford, where he served as the bookkeeper. As part of his duties, YARASAVICH had access to the firm’s financial records, and he was responsible for preparing regular financial reports for the firm’s management and outside accountant. Between August 2007 and February 2009, YARASAVICH wrote numerous unauthorized checks to himself drawn on the checking account of M2 Products, forged the signature of the firm’s president on those checks, and then cashed them, using the money for his own enrichment. In an effort to conceal his embezzlement, YARASAVICH falsified data in the firm’s financial reports and transmitted the falsified reports to the firm’s outside accountant.

Through this scheme, YARASAVICH embezzled approximately $149,128. Today, Judge Chatigny ordered YARASAVICH to pay full restitution to the victim company.

On January 13, 2010, YARASAVICH pleaded guilty to one count of wire fraud.

This case was investigated by the Federal Bureau of Investigation and was prosecuted by Assistant United States Attorney James R. Smart.