Newtown Man Pleads Guilty

To Embezzling $300,000

BRIDGEPORT — A Newtown man pleaded guilty in federal court  on January 29  to conspiracy to embezzle money from People’s Bank, according to Kevin J. O’Connor, United States Attorney for  Connecticut.

George Lopez, 46, of  121 Alberts Hill Road, Sandy Hook, pleaded guilty in US District Court before Judge Stefan R. Underhill, who accepted the plea.

As explained in court, Lopez was employed until last fall as a vice president of People’s Bank’s operations department.

 While employed by the bank, Lopez conspired with other bank personnel to embezzle funds to enrich himself. Lopez arranged to intercept checks that he had sent to the bank for payment of his credit card bills and, in so doing, succeeded in reducing his credit card balance without having funds drawn from his People’s Bank checking account, according to Mr O’Connor.

Lopez also furthered the embezzlement scheme by stealing from the bank’s escheatable funds.  Through the conspiracy, which spanned the years 1996 through 2002, and which involved multiple transactions, Lopez embezzled nearly $300,000 for his own benefit, according to Mr O’Connor.

Lopez faces up to five years in prison and $250,000 in fines when he is sentenced by Judge Underhill on April 16.

The criminal case, which was investigated by the Federal Bureau of Investigation, is being prosecuted by Assistant United States Attorney Brian E. Spears.