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West Haven City Councilman Stephen DeCresenzo charged with embezzling $172,000 from Chase bank

West Haven councilman arraigned on embezzlement charges

NEW CANAAN - The chairman of the West Haven City Council was arraigned Friday on charges linked to embezzling money from a local bank.

Police say Stephen DeCresenzo siphoned $172,000 from the Chase Bank on Main Street in New Canaan, where he is an employee. They add that he withdrew the money from two accounts and filtered it through a third account.

Authorities say DeCresenzo turned himself in when he learned of the warrant for his arrest.

Detectives say both victims in the case were elderly.

DeCresenzo is running uncontested to retain his seat in next week's election.

A judge originally set DeCresenzo's bond at $300,000, but reduced it after the suspect promised to appear in court later this month.
 

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