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Saturday, April 27, 2013

Former Adams Municipal Employees Federal Credit Union manager Patricia Piscioneri gets 1 day in prison, supervised release, on embezzlement charge in Massachusetts

An Adams woman was sentenced on Thursday in U.S. District Court for embezzlement and other related charges.

Patricia Piscioneri, 67, was sentenced by Judge Michael A. Ponsor to one day in prison, followed by two years of supervised release, the first six months of which must be spent in home confinement, 100 hours of community service, and a $3,000 fine.

In January, Piscioneri pleaded guilty to a 30-count indictment charging her with embezzlement of funds by a credit union employee and false entries.

While employed as the manager of the former Adams Municipal Employees Federal Credit Union, Piscioneri embezzled credit union funds by creating fraudulent loan accounts in the names of credit union members and depositing the proceeds of these fraudulent loans into her own account(s), her husband’s account(s), other family members’ account(s), or used the proceeds to pay off earlier obtained fraudulent loans.

In an attempt to avoid detection, Piscioneri created fraudulent loan documentation, such as loan applications and promissory notes and forged signatures on these documents, created false entries in the credit union's accounting system, and advanced the payment due dates of the fraudulent loans.

U.S. Attorney Carmen M. Ortiz and Richard DesLauriers, special agent in charge of the FBI Boston Field Division, made the announcement of the sentencing. The case is being prosecuted by assistant U.S. attorney Michelle L. Dineen Jerrett.

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