She pleaded guilty on Monday to wire fraud and filing false tax returns and faces up to 30 years in prison when she is sentenced in June. Until then, she is free on a $1 million bond. Her attorney didnt immediately return a message seeking comment. 90% of her computer-related purchases were fraudulent.
Starting in 2013, prosecutors said Petrone began making numerous small orders of tablet computers and other equipment that were billed to the school. She would then sell them to a business in New York state and have them send money to the account of a wedding photography and videography company she controlled.
In all, prosecutors say Petrone caused $40,504,200 in losses to Yale. They also say Petrone never declared any of the income on her taxes, filing false returns for 2013 through 2016, and no returns at all between 2017 and 2020. In total, she defrauded the IRS out of over $6 million, according to prosecutors. As part of her guilty plea, Petrone agreed to forfeit $560,421.14 that was seized from her accounts, two $135,000 Mercedes-Benzes, a $90,000 Range Rover, two Cadillac Escalades and a Dodge Charger. She also has agreed to turn over three properties she co-owns in Connecticut and another in Georgia.
They let her out on bond? They better have fucking frozen all of her and her business's accounts. Thus far, out of over $40M in fraud, she's only had to pay back $920K plus the value of the three properties. What an absolute fucking joke. And that's not counting the $6M in not-reported wages' taxes she owes the IRS. She funneled it to her business, so that better be getting fucking raided for every penny.