Indebted gambler stole from bank clients

Gambling is a rather exciting pastime, but debts can be a threat if things get out of hand. An ex West Haven town councilor turned to theft due to his gambling debts. 37-year-old Stephen DeCrescenzo is now facing a jail term up to 20 years, in addition to a $250,000 fine.

Gambling councilor

Stephen DeCrescenzoDeCrescenzo pleaded guilty to stealing about $172,000 from two clients at a New Canaan-based bank. The 37-year-old admitted he stole the money to plug massive gambling debts. He resigned from his position as councilor for the West Haven government.

Bank fraud detected

At the time of the fraud, the 37-year-old gambler worked at the bank. DeCrescenzo stole the money from two accounts, and mid-2013, security staff discovered the bank fraud. Police detained the 37-year-old man after bank security had reported the crime. Court documents demonstrate that the embezzled included three bank accounts.
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