A Norwich man admitted to embezzling over $680,000, over the course of seven years, from a Farmington-based nonprofit he was the president and chief executive officer of, federal prosecutors said.
From 2013 to 2020, Michael Meakem, 59, embezzled at least $683,202 from the Center for Financial Training, they said. He took the money from the nonprofit’s credit card and bank accounts then “used the funds on personal expenses, including alimony payments, meals, cruises, other vacations, and gambling at Connecticut’s casinos,” investigators said.
Meakem was the president and chief executive officer for the organization that provided resources and education to people in the financial services industry.
He pled guilty to wire fraud in federal court in New Haven Friday and faces a maximum sentence of 20 years in prison.
Meakem is free on $100,000 bond as he awaits sentencing on Aug. 3.
Jessika Harkay can be reached at email@example.com.