Crime & Safety

Ring's End Employees Arrested Over Possible $10K Fraud

Norwalk residents Philip Palma and Luis Montanez reportedly sold company property and pocketed the cash proceeds.

Two employees of were arrested Friday on charges of embezzling company property following an undercover operation by .

Norwalk residents Philip Palma, 53, and Luis Montanez, 49 were charged with sixth degree larceny and conspiracy to commit larceny after allegedly conducting a scheme to sell materials from the lumber yard for their own gain.

According to police, the pair, who sold items out of a woodshed at the yard, would occasionally approach customers and offer to accept cash payments in exchange for certain products. In turn, they would allegedly sign the customers' receipts and pocket the proceeds.

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After receiving a complaint from the Ring's End yard foreman on Feb. 4, police carried out an undercover operation in which an officer reportedly made several cash purchases from Palma and Montanez.

Capt. Fred Komm said police were only able to prove a few of instances of theft but that the company believes the fraud may have cost as much as $10,000.

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Palma and Montanez were arrested at Ring's End on a warrant. They both posted a $500 bond and are set to appear in court Mar. 7.

First Selectman Dave Campbell serves as president and CEO of Ring's End.


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