A Somers, Conn. man has pleaded guilty to defrauding The Hartford Insurance Company of nearly $900,000 during a renovation project.
Federal prosecutors say 42-year-old Todd Olynciw entered the plea Wednesday in U.S. District Court in Bridgeport and had been charged with mail fraud and tax evasion.
He had been employed as a project manager by The Hartford and was responsible for overseeing office renovations.
Olynciw admitted that he received about $400,000 in illegal kickbacks for steering some of the work and transferring furniture to two individuals and six entities from 1998 through July 2005. Authorities say he failed to report the kickbacks on his personal income tax returns. The company lost $876,437 as a result of the scheme, prosecutors say.
Olynciw faces up to 25 years in prison when he is sentenced March 24.
Was this article valuable?
Here are more articles you may enjoy.
Abundant Reinsurance Capacity Accelerates Market Softening During 1/1 Renewals 
Brown & Brown Files Suit Over Alleged Howden Poaching of 200+ Employees 
FBI Involved After Two Florida Injury Lawyers Go Missing From Fishing Trip 
Three Top P/C Insurers Account for Most of Insurance AI Patents 
