A Shelton resident admitted in federal court Wednesday that she embezzled $260,000 from her former employer, a local manufacturer.
Barbara J. Buchanan, 60, entered a guilty plea before U.S. District Court Judge Janet Bond Arterton to one count of wire fraud stemming from the embezzlement scheme.
Arterton scheduled Buchanan’s sentencing for June 20, when Buchanan faces up to 20 years in prison. She is free on $100,000 bail.
Attorney John Thygerson of Norwalk, who is representing Buchanan, said via telephone Thursday, “Ms. Buchanan promptly accepted responsibility for her actions and is extremely remorseful for what she has done.”
Buchanan had worked as payroll manager for H.J. Baker & Bro. LLC, a business headquartered on Corporate Drive in Shelton, at the time of the offense. The company serves the agriculture industry and makes a variety of feed, fertilizer and sulphur products, according to its website.
According to the U.S. Attorney’s office, over a five year period, from approximately 2014 through September 2019, Buchanan made multiple false entries and adjustments in the company’s payroll system, then wired money into her personal bank account.
Buchanan also made phony journal entries in the company’s tax records in an effort to conceal the embezzlement, prosecutors said. Buchanan stole approximately $220,000 from the company through the scheme.
Additionally, prosecutors indicated that Buchanan also used a company American Express card to make $40,000 in personal purchases.
Buchanan will make full restitution to the company in the amount of $260,202.
According to Thygerson, Buchanan has already come up with the funds to make her former employer “whole.”
Alissa Smith, a media spokesperson for H.J. Baker, said Thursday that Buchanan no longer works for the company.
When asked for the company’s reaction to the guilty plea, Smith said, “We can confirm that the statement from the U.S. Attorney’s office is correct.” Smith indicated the company would not comment further at this time.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
