NEW HAVEN, Conn. (AP) A West Haven councilman has pleaded guilty to a wire fraud charge, admitting he stole money from the bank where he was employed.
Federal prosecutors say 37-year-old Stephen DeCrescenzo stole $106,000 from customer accounts at the JPMorgan Chase Bank in New Canaan between 2008 and 2011, and tried to hide the thefts by disguising them as cash withdrawals by customers.
Prosecutors say DeCrescenzo also wired funds stolen from a customer account into another bank account for his personal benefit.
DeCrescenzo pleaded guilty to a single wire fraud count in U.S. District Court in New Haven on Monday and resigned from his seat on the West Haven City Council.
He faces up to 20 years in prison when he is sentenced on Feb. 17.
