An East Haven politician admitted Tuesday he participated in a scheme which federal prosecutors claim defrauded an Illinois company out of $3 million.
John T. Finkle III, 57, pleaded guilty in U.S. District Court in New Haven to conspiracy to commit mail and wire fraud. Finkle is a school board member and a former candidate for mayor in East Haven.
U.S. District Judge Janet C. Hall scheduled Finkle’s sentencing for Oct. 8. He remains free on $500,000 bond.
While the U.S. Attorney’s office asserts the victim company’s loss was at $3 million, Finkle disputes this amount, according to his defense attorney, Tara Knight of New Haven.
“The loss is still in dispute and something we believe may be overstated,” Knight said. “We feel that amount is not accurate.”
Attorneys for both sides will be computing the exact amount of the loss prior to the sentencing, she said.
Finkle faces potential prison time, and will likely have to pay restitution.
According to the government, Finkle worked in sales for a company that supplies electronic components. Prosecutors did not identify the company.
Between 2015 and 2018, Finkle allegedly conspired with a New York man, Kenneth Pedroli, who operates a business in Islandia, N.Y. and bought electronic components from Finkle’s employer.
Prosecutors allege that Finkle instructed Pedroli, when placing orders, to “pay only a portion of the invoiced price and to make the payments directly to Finkle, which Pedroli did.”
Finkle then deposited the payments into his personal checking account for his own use, according to the government. A fellow employee, Steven Gold, 46, of Pleasant Prairie, Wisc., allegedly changed the company’s records to make it seem as though Pedroli had properly paid for the products he received.
Pedroli pleaded guilty to the same offense in April and awaits sentencing. Gold’s case is still pending, with jury selection scheduled for October.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com
