FAIRFIELD COUNTY, Conn. - Harrison's Gary Vestuti, 43, was sentenced yesterday to 27 months in prison followed by five years of supervised release for being involved in a multimillion dollar bank fraud scheme, the United States Attorney for Connecticut David B. Fein said.
Vestuti used to work for the Branford-based New England Cash Dispensing Systems, Inc., which operated a network of automated teller machines to banks including Rhode Island's Domestic Bank. The former resident of Fairfield, Conn. admitted that he and his coworkers conspired to scam Domestic Bank by ordering excess amounts of cash for ATMs that would have otherwise been refilled with NECDS's funds.
The parties involved admitted to covering up the missing money by "floating" the bank's money. NECDS workers involved in the conspiracy would order extra money for Domestic Bank ATMs throughout the northeast, knowing the extra cash would be used to fill different machines.
Vestuti and his coworkers stole money over several years while Domestic Bank received false information through the periodic replenishment process that its money was appropriately accounted for.
Domestic Bank lost approximately $4.8 million of money it supplied to NECDS, Fein said. Vestuti was ordered to pay full restitution to the former owners of the bank.
Three other former NECDS employees pleaded guilty to charges stemming from their involvement with the scheme and each awaits sentencing. Vestuti pleaded guilty to one count of conspiracy to commit bank fraud on Jan. 4.
The matter is being investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Paul Murphy.
Email town reporter Phil Corso at PCorso@TheDailyHarrison.com .
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