Newtown Woman Admits Embezzling More Than $1.5 Million from Shelton Employer

The United States Attorney for the District of Connecticut today announced that JOANNE OSMOLIK, 51, of Newtown, waived her right to indictment and pleaded guilty yesterday, December 20, before United States District Judge Stefan R. Underhill in Bridgeport to one count of wire fraud stemming from her embezzlement of more than $1.5 million from her employer.

According to court documents and statements made in court, OSMOLIK was employed at Latex International in Shelton, serving most recently as the company’s vice president for human resources. From approximately October 2008 to November 2010, OSMOLIK and another member of Latex International’s senior management used corporate funds to pay personal expenses. As part of the scheme, OSMOLIK and the other employee charged substantial personal expenditures on corporate credit cards. They also prepared fraudulent expense reports to conceal the unauthorized credit card expenses, and to receive additional company funds.

Through this scheme, OSMOLIK charged more than $1 million in personal expenses on the corporate American Express card that was assigned to her, and received an additional $531,655 in fraudulent expense report payments from the company.

Judge Underhill has scheduled sentencing for March 9, 2012, at which time OSMOLIK faces a maximum term of imprisonment of 20 years and a fine of up to approximately $3.5 million.

As part of the resolution of this matter, OSMOLIK has agreed to forfeit her interest in three residential properties in Vermont, six motorcycles, an all-terrain vehicle, four snowmobiles, vehicle trailers, jewelry and numerous appliances and other home furnishing items.

This case is being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Eric J. Glover.