Bank manager facing charges for allegedly embezzling $850K

New Haven

A former bank manager has been charged after allegedly stealing funds from his employer.

On Tuesday, John H. Durham, United States Attorney for the District of Connecticut, announced that 59-year-old Stephen Carbonella of Hamden allegedly embezzled funds from Webster Bank Corporation.

Carbonella was arrested Tuesday morning and appeared in court in New Haven. He entered a plea of not guilty and was released on $200,000 bond.

Carbonella served as bank manager of Webster Bank Corporation’s branch office in Orange.

According to the indictment and statements made in court, more than $850,000 was withdrawn by Carbonella from Webster Bank account holders’ certificates of deposit (CD) between 2003 and 2017. These withdrawals were allegedly done without consent of the account holders.

The indictment charges Carbonella with one count of Embezzlement by a Bank Officer of Employee.

This matter remains under investigation.

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