Man pleads guilty to embezzling from Orange church, others

| July 29, 2011

NEW HAVEN — A man federal authorities say embezzled more than $10 million, including $2.1 million from St. Barbara Greek Orthodox Church in Orange partly to fund his professional auto-racing business, pleaded guilty Tuesday afternoon and faces 8 to 14 years behind bars.

Gregory P. Loles, 52, of Easton changed his plea Tuesday in U.S. district court in New Haven to guilty on one count each of wire, securities and mail fraud, and money laundering. Each guilty plea could result in a maximum 20-year prison sentence, but Assistant U.S. Attorney Michael S. McGarry said possible sentencing ranges between 8 and 14 years in prison. Loles is scheduled to be sentenced Oct. 14, but his attorney, Christopher W. Caldwell, said that date is likely to be extended.

During the two-hour hearing, Caldwell said none of the money Loles embezzled is left. To highlight his point, Caldwell said after the hearing that the federal government hired him to represent Loles because he was not able to pay for legal services.

 

http://www.ctbulletin.com/articles/2011/07/27/news/doc4e3012bf73b0b484348625.txt

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Category: Church Security

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