Darrin Foster, the former CFO of a Westport hedge fund, was sentenced to 41 months in prison for embezzling more than $1 million from his employer, according to the U.S. Attorney for Connecticut.
Over a six-year period culminating in July 2010, Foster made thousands of unauthorized charges totaling $1,093,856 to his employer’s American Express account, which he paid off using funds from the hedge fund’s investors.
While prosecutors did not name his employer in a March 14 statement, Foster is reported to have worked for Turkel Investments L.L.C.
Foster, who had resided in the Bronx, was arrested by the New York State Police last May, and in October he pleaded guilty to one count of wire fraud. Following his release from prison, he will be subject to three years of supervised released.
