A 50-year-old Windsor woman has admitted to fraud against her former employer, ZoneFlow Reactor Technologies, and one of its lenders.
Margaret Boisture waived her right to be indicted and pleaded guilty Tuesday before U.S. District Judge Omar A. Williams in Hartford.
Boisture was the chief financial employee of ZoneFlow, a Windsor-based company that developed technology that improves the efficiency of the production of hydrogen.
From October 2016 to February 2020, Boisture defrauded ZoneFlow by taking unauthorized commercial loans marketed and serviced by PayPal, through the third-party vendor WebBank, which caused ZoneFlow to pay additional interest, according to authorities.
Also, Boisture made misrepresentations to PayPal and WebBank to induce them to make unauthorized loans to ZoneFlow, they said.
Boisture caused losses of $632,159 to ZoneFlow and $78,066 to PayPal and WebBank, authorities said.
Boisture pleaded guilty to one count of wire fraud affecting a financial institution, which carries a maximum penalty of 30 years in prison.
Boisture was released on a $500,000 bond pending sentencing, The case was investigated by the FBI and prosecuted by Assistant U.S. Attorney David E. Novick.
In February 2020, Boisture, who owned Star Mountain Kennels, was charged with animal cruelty, excessive confinement, failure to vaccinate for rabies and operating a kennel after a license had been revoked/suspended, according to the Hartford Courant.
