Thaindian News

HARTFORD, CONNECTICUT (BNO NEWS) – A former Connecticut bank employee, her husband, and ex-husband on Thursday were charged with defrauding bank of nearly $6.2 million.

Susan A. Curtis, 48, her husband Gary J. Stocking, 43, and Curtis’ former husband Kevin W. Caffrey, 45, are charged with one count of bank fraud and one count of conspiracy to commit bank fraud.

The indictment alleges that Curtis was employed in the Property Services Division of Webster Bank with responsibilities that included negotiating and managing bank property leases where Webster Bank was a landlord or tenant.

The indictment further alleges that Curtis, Stocking, and Caffery established two companies called New House, LLC and Equity Realty, LLC, which Curtis falsely represented to Webster Bank’s Vendor Management Department were landlords, an exempted category for due diligence and annual review.

As part of the alleged scheme, Curtis submitted paperwork to the bank’s Account Payable Department in which she falsely represented that New House and Equity Realty were due a fee in approximately 109 real estate related transactions involving 67 properties. As a result, Webster Bank made payments of approximately $5.04 million to New House and Equity Realty.

In addition, the indictment alleges that Curtis caused a landlord, who was a leaser of property leased to Webster Bank, to send approximately $703,620 in lease improvement payments directly to Curtis.

The indictment also alleges that Curtis falsely represented to other landlords or their counsel, who were dealing with Webster Bank, that a $450,000 check for property improvements should be paid directly to Equity Realty.

If convicted, each of the defendants faces a maximum penalty of 30 years in prison on each count.