September 13, 2018

Webster embezzler facing 30 years

A former Webster Bank manager faces 30 years in prison following his conviction Thursday for embezzling more than $850,000, prosecutors say.

Stephen Carbonella, 59, of Hamden, pleaded guilty Thursday in Hartford federal court to one count of embezzlement from Webster while managing its Orange branch, the Connecticut U.S. Attorney's Office said.

Carbonella, who was arrested in July, is currently free on $200,000 bond, pending his Dec. 4 sentencing.

According to investigators, Carbonella withdrew over $850,000 from account holders at Webster Bank without their consent and used the funds for personal use between 2003 and 2017.

Free E-Newsletter

Sign up now for our New Haven Biz
e-newsletter! Click Here

 
Subscribe to print for free

Premier issue coming in October. Click here to subscribe

ADVERTISEMENTS
Copyright 2018 New England Business Media
-->