Adams woman sentenced for embezzling from town's municipal credit union
SPRINGFIELD -- A 67-year-old Adams woman has been sentenced to a day in prison and six months of home confinement for embezzling and making false entries into the books as the manager of the former Adams Municipal Employees Federal Credit Union.
U.S. District Judge Michael A. Ponsor also ordered that Patricia Piscioneri abide by two years of supervised release, 100 hours of community service, and a $3,000 fine.
In January, Piscioneri pleaded guilty to a 30-count indictment charging her with embezzlement of funds by a credit union employee and making false entries.
She had been facing up to 30 years in prison and a $1 million fine.
While employed as the manager of the former Adams Municipal Employees Federal Credit Union, Piscioneri admitted embezzling credit union funds by creating fraudulent loan accounts in the names of credit union members and depositing the proceeds of these fraudulent loans into her own account, her husband's, those of other family members, or using the proceeds to pay off previously obtained fraudulent loans, according to the U. S. Attorney's Office.
To avoid getting detected, Piscioneri created fraudulent loan documentation, such as loan applications and promissory notes, and forged signatures on the fraudulent loan documentation, according to the U. S. Attorney's Office. Additionally, Piscioneri created false entries in the Adams Municipal Employees Federal Credit Union accounting system and advanced the payment due dates of the fraudulent loans.
United States Attorney Carmen M. Ortiz and Richard DesLauriers, special agent in charge of the Federal Bureau of Investigation's Boston Field Division, made the announcement of the sentencing on Friday. The case was prosecuted by Assistant U.S. Attorney Michelle L. Dineen Jerrett.
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