Listeners Club

Forgot Password

Not a Member? Sign up here!

banner

Former councilman spared prison in wire fraud conviction

NEW HAVEN, Conn. (AP) A former West Haven city councilman and banker who stole money to support a gambling problem has been spared prison time.

The New Haven Register reports Stephen DeCrescenzo was sentenced Tuesday in U.S. District Court in New Haven to three years' probation.

The 38-year-old DeCrescenzo pleaded guilty in November to wire fraud.

He was ordered to participate in a gambling treatment program and refrain from gambling.

DeCrescenzo was fired as a personal banker at JPMorgan Chase Bank in New Canaan after his employer discovered the theft, which occurred from 2008 to 2011. The bank lost $106,028 and DeCrescenzo must make restitution.

He apologized to his employer, family and friends. He said he believes he's a ``good person who made a terrible decision'' costing him his job, financial security and marriage.