A Windsor woman was sentenced to 33 months in prison for defrauding her employer and two companies of over $710,000 in total, according to the U.S. Attorney’s office.
Margaret Boisture, 51, of Windsor was sentenced to 33 months in prison followed by two years of supervised release on one count of wire fraud affecting a financial institution by U.S. District Judge Omar Williams in Hartford on Tuesday. She was ordered to pay back full restitution and a $7,100 fine, the U.S. Attorney’s office said.
Boisture was the chief financial employee of ZoneFlow Reactor Technologies, a company developing a new technology to improve the efficiency of hydrogen production, according to court documents.
From October of 2016 to February of 2020, Boisture defrauded ZoneFlow by diverting loans acquired from PayPal and WebBank to herself, according to court records. She also took out unauthorized loans that caused the company to pay extra in interest and misrepresented information to PayPal and WebBank in order to increase the pool of money to take from, court documents said.
In total, Boisture caused losses of over $632,000 to ZoneFlow and $78,000 to PayPal and WebBank, the U.S. Attorney’s office said.
Boisture, who is out on a $500,000 bond, is required to report to prison on March 13, the U.S. Attorney’s office said.