Edward Petrucci of Orange has been sentenced to 57 months in prison, followed by three years of supervised release, for defrauding a company out of $2.5 million, forcing it to go out of business.
Petrucci operated a group of construction and insulation companies based in West Haven and sold his funding company, Platinum Funding Services LLC of New York, fake invoices between 2007 and 2009.
Petrucci’s scheme forced Platinum out of business and caused approximately 40 Platinum employees to lose their jobs.
Senior U.S. District Judge Alfred V. Covello ordered Petrucci to pay restitution in the amount of $2.98 million
Petrucci previously spent two months in prison for filing false corporate and personal tax returns and evading the payment of more than $1 million in federal income taxes. He was serving a three-year term of federal supervised release when he began the scheme against Platinum.