Woman Who Was Chief Financial Employee In CT Gets Years In Prison For Stealing Over $700K

A woman from Hartford County faces years in prison for stealing more than $700,000 from both her former employer and third-party lenders over the span of nearly four years.

Bundles of $100 bills.
Photo Credit: *PublicDomainPictures/Pixabay*

Ben Crnic

01/22/2023 10:00 a.m.

Windsor resident Margaret Boisture, age 51, was sentenced to 33 months in prison on Tuesday, Jan. 10 for fraud, according to the US Attorney's Office for the Connecticut District.

Boisture was once the chief financial employee of ZoneFlow Reactor Technologies, a company developing a new technology to make hydrogen production more efficient. In this role, Boisture defrauded Zoneflow, PayPal, and the third-party lender WebBank between October 2016 and February 2020 by diverting her employer's money to herself.

Boisture would also take out unauthorized loans that caused ZoneFlow to pay more interest expenses, and would make misrepresentations to PayPal and WebBank to convince them to make unauthorized loans to ZoneFlow, which Boisture could then steal.

Overall, Boisture caused a loss of $632,159.78 to ZoneFlow and $78,088.76 to PayPal and WebBank.

She pleaded guilty to one count of wire fraud affecting a financial institution on Tuesday, July 19, 2022, and will report to prison on Monday, March 13.

In addition to prison time, Boisture will face two years of supervised release and will have to pay a $7,100 fine and make full restitution.

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