Former New Hartford biz CFO charged with fraud, money laundering

255

According to the Federal Department of Justice, Michael Bartusek, 57, a Chief Financial Officer for a New Hartford Company was arrested on Tuesday with an indictment allegation of wire fraud and money laundering; Michal allegedly diverted about $776,000 belonging to the company he works for to his expenses as well as a high-risk investment in African diamonds for his benefits. He was arraigned before a court in Syracuse yesterday and later released pending his trial. If found guilty, Michael will face up to 20 years in prison, a fine of $250,000 or two times the amount of loss suffered by his company where he stole the money, and possibly a term of supervised release of up to three years.