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This profile was last updated on 2/1/15  and contains information from public web pages and contributions from the ZoomInfo community.

Stephen W. DeCrescenzo

Wrong Stephen W. DeCrescenzo?

Assistant Vice President Business...

Local Address: West Haven, Connecticut, United States
JPMorgan Chase & Co.
 
Background

Employment History

24 Total References
Web References
Former New Canaan Chase Bank employee ...
www.stamfordadvocate.com, 16 Nov 2013 [cached]
Former New Canaan Chase Bank employee Stephen DeCrescenzo, 36, of 9 Apple Tree Terrace, West Haven, turned himself over to New Canaan police on Nov. 1 and was charged with two counts of first-degree larceny.
After his morning appearance in Stamford on Friday, DeCrescenzo's attorney, Mark Sherman, said given his recent election win, DeCrescenzo "is sensitive to the fact that this is a delicate situation, but he is innocent until proven guilty.
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On election day following his arrest, DeCrescenzo was the biggest vote-getter of the four at-large city council candidates in West Haven and was returned to his council seat for a fifth time.
The case was first heard in Norwalk and then transferred to the Part A docket in Stamford, where the most serious cases in the area are adjudicated.
According to a police press release, the investigation into DeCrescenzo, who because of his position as city council chairman is first in line of succession to become mayor, was placed under investigation in early August after Chase Bank security called police to report fraudulent activity involving the accounts of three customers.
An investigation showed that DeCrescenzo, whose title was bank relationship manager, allegedly embezzled the money from two accounts and used a third account to filter the money, the release said.
The councilman, who began his career at a beverage company, moved up the banking ladder quickly. According to a resume contained in his court file, in 2007 he was president and branch manager at Cornerstone Mortgage in Essex. From there he went to Bank of America in Norwich, where he was a small business specialist.
He began working for Chase Bank in Milford in 2011, where he was also a small business specialist. In 2012 he was brought to the New Canaan branch, where he was hired to increase business customers and work outside the branch to develop new banking relationships in New Canaan and Wilton.
After his arrest, DeCrescenzo was held by police on $300,000 bond, but the banker was released the following day by a Norwalk judge after signing a written promise to appear.
According to his arrest affidavit, DeCrescenzo had been moving money around different accounts since last October.
Chase investigators gave police the copies of all the withdrawal slips that were used and time-stamped still pictures obtained from the surveillance system showing DeCrescenzo at the teller window submitting the slips and receiving cash, the affidavit said. While it is not uncommon for a personal banker to retrieve money for customers and bring it back to his office to give it to waiting customers, none of the customers he was withdrawing money from were in the bank at the time, the affidavit said.
DeCrescenzo was seen on camera returning to his desk with the envelope full of money and putting it into his desk drawer. Later, he moved the envelope into his personal backpack, the affidavit said.
NEW HAVEN >> Former West Haven ...
www.nhregister.com [cached]
NEW HAVEN >> Former West Haven City Councilman Stephen DeCrescenzo was sentenced Tuesday to three years of probation for stealing from accounts at Chase Bank, where he worked as a personal...
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WEST HAVEN >> City Council Chairman Stephen DeCrescenzo pleaded not guilty Friday to two charges of first-degree larceny, according to his attorney, Mark Sherman....
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WEST HAVEN >> City Council Chairman Stephen W. DeCrescenzo was arraigned Friday in Superior Court in Norwalk on charges that he stole $172,000 from two Chase Bank accounts at the New Canaan...
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WEST HAVEN >> City Council Chairman Stephen W. DeCrescenzo, charged in a warrant with first-degree larceny, has not turned himself in to police, and friends and political allies said...
City Council
www.cityofwesthaven.com, 10 May 2014 [cached]
Stephen W. DeCrescenzo 9 Apple Tree Terrace Tel: 203-931-7783 Email: decrescenzo@westhaven-ct.gov
Stephen DeCrescenzo, a ...
www.stamfordadvocate.com, 23 July 2014 [cached]
Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme. Photo: Contributed Photo / Stamford Advocate Contributed Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme. Photo: Contributed Photo Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan,...
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme. Photo: Contributed Photo / Stamford Advocate Contributed
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme.
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan,...
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme.
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme.
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme.
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Former New Canaan banker Stephen DeCrescenzo pleaded guilty Monday to one count of wire fraud stemming from an embezzlement scheme.
DeCrescenzo, who lives in West Haven and was a member of the West Haven city council until his resignation Monday, was employed as a personal banker for JPMorgan Chase Bank in New Canaan. Between September 2008 and November 2011, the U.S. attorney claims DeCrescenzo embezzled a total of $106,028 in funds from customer accounts by transferring the funds into a separate customer account to which he had access.
DeCrescenzo "disguised numerous withdrawals from the customer accounts of (Chase) as authorized cash withdrawals by customers when in fact the money was stolen by DeCrescenzo," states the plea deal, filed on Monday. Further, the deal asserts that DeCrescenzo "wired funds stolen from a customer account held by (Chase) into another bank account for his personal benefit."
Wire fraud carries a maximum penalty of 20 years in prison, and a $250,000 fine. DeCrescenzo is set to be sentenced on Feb. 17, and was released Monday on a $50,000 bond.
In addition to jail time and possible monetary fines, DeCrescenzo agreed to make restitution for the amount of money stolen, the plea deal stipulates.
DeCrescenzo, 37, who is married and has children, was first arrested on Nov. 1, 2013, after an investigation that opened August of that year after bank security called police to report fraudulent activity in three of its customers' accounts. The investigation, which was conducted by the Connecticut Financial Crimes Task Force, the Greenwich Police Department and the New Canaan Police Department, alleged that DeCrescenzo embezzled money from two accounts and used a third account to filter the money, according to a release issued at that time.
Police also said in 2013 that DeCrescenzo was seen on camera putting an envelope full of money into his desk drawer before later moving the envelope into his personal backpack.
A resume included in DeCrescenzo's original court file shows that he began his career at a beverage company and moved quickly up the ladder in the banking industry. In 2007, he was president and branch manager at Cornerstone Mortgage in Essex; he was later a small business specialist at a Norwich office for Bank of America. He moved to Chase in 2011, first at the bank's Milford office, where he was also a small business specialist, before moving to the New Canaan branch in 2012, where he was hired to increase the number of business customers and work outside the branch to develop new banking relationships in New Canaan and Wilton.
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Stephen DeCrescenzo, a former employee of Chase Bank in New Canaan, Conn. and a West Haven City councilman, pleaded guilty Monday, Nov. 24, 2014, to one count of wire fraud stemming from an embezzlement scheme.
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In addition to jail time and possible monetary fines, DeCrescenzo agreed to make restitution for the amount of money stolen, the plea...
Stephen W. DeCrescenzo. Photo ...
www.nhregister.com, 24 Nov 2014 [cached]
Stephen W. DeCrescenzo. Photo courtesy of New Canaan Police Department
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The federal conviction prohibits DeCrescenzo, 37, of West Haven, from holding public office.
DeCrescenzo submitted his resignation from his position on the council earlier on Monday, according to his attorney, Robert Frost Jr. of New Haven.
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DeCrescenzo waived indictment and entered the plea Monday before U.S. District Court Judge Janet Bond Arterton in New Haven.
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During Mondays court proceeding, DeCrescenzo told the judge he sees a therapist because of a gambling problem.
According to a stipulation of offense conduct, DeCrescenzo knowingly caused to be transmitted a $30,000 wire transfer, to a customers account in Connecticut, to pay a gambling debt owed to a third party.
While the conviction carries a maximum term of imprisonment of up to 20 years and a fine of up to $250,000, sentencing guidelines call for DeCrescenzo to get between 15 and 21 months, and a fine of between $4,000 and $40,000.
The guidelines are advisory, not mandatory, and a judge may impose a sentence outside of the guidelines at DeCrescenzos sentencing Feb. 17.
DeCrescenzo must make restitution of about $106,028, according to the plea agreement, with the schedule of payments to be determined at sentencing.
DeCrescenzo has two counts of first-degree larceny pending against him in state Superior Court in Stamford in connection with the case.
The larceny counts were lodged in late 2013, and DeCrescenzo had continued to serve on the council in the months since his arrest.
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DeCrescenzo worked as a personal banker for JPMorgan Chase Bank in New Canaan, according to court documents and statements made in court.
Between September 2008 and November 2011, DeCrescenzo embezzled $106,028 in funds from customer accounts by transferring the funds into a separate customer account to which he had access, according to the U.S. Attorneys Office.
Assistant U.S. Attorney Douglas P. Morabito also described the case against DeCrescenzo in court Monday.
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DeCrescenzo disguised account withdrawals as authorized cash withdrawals by customers. According to prosecutors, DeCrescenzo had actually stolen the money.
DeCrescenzo also wired funds stolen from a customer account into another bank account for his personal benefit, prosecutors said.
DeCrescenzo was released on a $50,000 bond.
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