Nora R. Dannehy, Acting United States Attorney for the District of Connecticut, announced that TODD OLYNCIW, 43, of Bobolink Lane, Somers, was sentenced today by United States District Judge Stefan R. Underhill in Bridgeport to 28 months of imprisonment, followed by three years of supervised release. On January 2, 2008, OLYNCIW pleaded guilty to one count of mail fraud and one count of tax evasion.
According to documents filed with the Court and statements made in court, OLYNCIW was employed as a Project Management Manager by The Hartford Insurance Company (“The Hartford”) and was responsible for managing office renovations, including the removal and installation of furniture and flooring at The Hartford’s facilities. OLYNCIW has admitted that, from approximately 1998 through July 2005, he conspired with other individuals to defraud The Hartford. OLYNCIW admitted that he received substantial illegal kickbacks for misappropriating and unlawfully transferring to two individuals and six entities furniture that was owned by The Hartford, and also in exchange for directing business from The Hartford to the individuals and entities.
In total, The Hartford lost $876,437 as a result of the scheme, and OLYNCIW received more than $395,720 in illegal kickbacks. OLYNCIW also failed to report these kickbacks on his personal income tax returns for taxable years 2000 through 2005.
Today, Judge Underhill ordered OLYNCIW to pay restitution in the amount of $876,437 to The Hartford and to forfeit $208,324 to the Government. OLYNCIW also is required to pay to the Internal Revenue Service back taxes in the amount of $88,607, plus substantial penalties and interest.
This case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation Division. The Hartford Insurance Company assisted the investigation. The case is being prosecuted by Assistant United States Attorney Geoffrey M. Stone.
|
