The former CFO of a Connecticut software company is facing wire fraud charges for allegedly embezzling hundreds of thousands of dollars from her employer.
U.S. Attorney for the District of Connecticut David Sullivan on Monday announced the five-count indictment against Pamela Aguilar. Court records show a federal grand jury returned the indictment on Oct. 15
According to the indictment, Aguilar orchestrated a scheme to move money from her former employer’s account to her own accounts “by various means.” That included ACH and wire transfers from the company’s bank account to accounts that she controlled. The indictment also said Aguilar wrote checks and made cash withdrawals from her employer’s account and “used the money for her own benefit.”
The indictment went on to allege that Aguilar made PayPal and credit card payments from her employer’s bank account “for her own benefit.”
Aguilar is alleged to have stolen about $700,000 from the company. Aguilar, who pleaded not guilty to the charges, has been released on a $50,000 bond.
Prosecutors alleged Aguilar covered up the embezzlement by creating “materially false weekly cash reports and false monthly financial statements that she provided to [the company’s] Chief Executive Officer.”
Court documents allege Aguilar devised the defrauding scheme “from in or about 2018 and continuing until in or about 2025.”
The FBI is conducting the investigation into the case, while Assistant U.S. Attorney Ray Miller is prosecuting it.
The name of Aguilar’s former employer “did not come out in court,” a spokesman for Sullivan’s office said via email, and the indictment document refers to it only as “Company A.” However, local publication Hartford Business Journal identified the company as Danbury, Connecticut-based MaxQ Technologies. A LinkedIn page for an individual by the name “Pam Aguilar” also lists MaxQ as the most recent employer.
