A former human resources head at Shelton-based Latex International who pleaded guilty to embezzling $1.75 million was sentenced to 4 years in federal prison and will lose interest in three Vermont residences, six motorcycles and other vehicles, jewelry and furnishings in order to make restitution.
U.S. District Judge Stefan R. Underhill in Bridgeport sentenced Newtown resident and former Latex International executive Joanne Osmolik, 52, on Thursday.
According to court documents, Osmolik and former Latex International Chief Executive Kevin Coleman conspired to embezzle a total of $3.5 million from the company, by charging major purchases on corporate credit cards and fraudulent expense reports.
Coleman pleaded guilty in February and awaits sentencing.
The company told the sentencing judge the fraud forced it to layoff 49 employees.
“Osmolik and her co-conspirator recklessly pillaged Latex International purely for their own benefit, while having no regard for the employees, customers and shareholders of our company who suffered as a result of their actions,” said Latex International President and Chief Executive Officer Dave Fisher, in a prepared statement. “It has taken the new management team several years to pull itself out of the painful financial morass that these criminals caused our company. We are pleased they have finally been brought to justice. I am very grateful for the diligent efforts of the U.S. Attorney, Federal Bureau of Investigation and the Internal Revenue Service for all their assistance throughout this process,.”