Bridgton man faces federal fraud charges in Conn. over $1M embezzlement scheme
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A part-time resident of Bridgton, Edward Ziegler, was indicted in Connecticut on charges of wire fraud and tax evasion.
A Bridgton man has been indicted by a federal grand jury in Connecticut on fraud and tax evasion charges related to a million-dollar embezzlement scheme.
The New Haven, Conn., jury last week handed up a 27-count indictment against Edward F. Ziegler II, 63, who was arrested in Maine where he has a second home, according to court documents.
Ziegler pled not guilty at an appearance Tuesday in a Connecticut federal court, and was released on $100,000 bond.
While employed for 25 years as an office manager at a small business in Berlin, Conn., Ziegler allegedly deposited over 400 customer checks totaling more than $1 million into his own secret bank account. The account was under his name but included language suggesting he was doing business as his employer.
For several years, Ziegler also billed customers and then deposited their checks, and made false entries in the company’s books to cover up his embezzled income, the indictment said. In addition, Ziegler failed to pay $174,000 in federal income taxes on the funds from 2015 to 2019.
Ziegler faces 22 counts of wire fraud affecting a financial institution, with each count carrying a maximum sentence of 30 years in prison, and five counts of tax evasion, each punishable by up to five years in prison.
The investigation continues and is being conducted by the FBI and the IRS Criminal Investigation Division with assistance of the Bridgton Police Department.
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