Norwalk Bookkeeper Sentenced to Prison for Fraud and Tax Offenses | USAO-CT

John H. Durham, United States Attorney for the District of Connecticut, announced that PENNI SHERMAN, also known as PENNI PARKER, 53, of Norwalk, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to eight months of imprisonment, followed by two years of supervised release, for fraud and tax offenses stemming from an embezzlement scheme.  Judge Shea ordered Sherman to spend the first two months of supervised release in home confinement.

According to court documents and statements made in court, Sherman operated PSP Accounting & Bookkeeping, and provided bookkeeping services to area businesses.  Between 2011 and 2018, Sherman stole a total of $418,197.09, from clients and used the funds to pay her own credit card bills and to cover other personal expenses, including salon services.

Sherman stole more than $396,000 from one of her clients who owned a small business.  When confronted about the embezzlement, Sherman returned $165,920 to the victim business owner.

Sherman failed to report the embezzled funds, and certain other business receipts, on her federal income tax returns, resulting in a loss of $125,167 to the Internal Revenue Service.

On October 11, 2019, Sherman pleaded guilty to one count of wire fraud and one count of making and subscribing a false tax return.

Judge Shea ordered Sherman to pay restitution of $252,277.09 to the victims of her fraud, and $125,167 in back taxes, plus applicable interest and penalties, to the IRS.

Sherman, who has been released on bond, is required to report to prison on August 13, 2021.

This matter was investigated by the Internal Revenue Service – Criminal Investigation Division and U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI).  This case was prosecuted by Assistant U.S. Attorney Jennifer R. Laraia. 

Source link

Author: Editor
The website is owned by STL.News, LLC. However, the website is hosted, designed, and maintained by WebTech Group, a web host, and design agency based in St. Louis, Missouri. USDOJ.Today focuses on aggregating content from the US Attorney's Offices around the country. STL.News uses this content to publish national news at https://STL.News