CONNECTICUT – A 45-year-old comptroller was sentenced to four years in prison for stealing more than $9 million from his employer, officials announced Monday.
Lawrence J. Herzing, 45, of Greenwich, embezzled more than $9 million from a hedge-fund of his employer, the Greenwich-based Contrarian Capital Management LLC.
According to court documents and statements made in court, this is what happened:
- Herzing was employed as the controller of Greenwich-based Contrarian Capital Management, L.L.C.
- On 32 occasions between 2004 and 2013, Herzing used his position to wire $9,202,417.54 from his employer to accounts that he controlled.
- Judge Meyer ordered Herzing to pay full restitution.
- Herzing has forfeited his residence and funds seized from his accounts, totaling more than $5 million.
- Herzing was arrested on October 29, 2014. On January 29, 2015, he pleaded guilty to one count of wire fraud.
