Contact: Major Todd E. Catlow, Detective Commander Telephone: (401) 444-1006
Colonel Steven G. O'Donnell, Superintendent, of the Rhode Island State Police and Commissioner of Public Safety, announces that on Monday, October 21, 2013, members of the Financial Crimes Unit arrested Michael Iarocci, age 31, of 44 Sharon Drive, Coventry, Rhode Island on an arrest warrant that alleges he committed the crimes of Larceny over $1,500.00 and Embezzlement over $100.00.
The State Police Financial Crimes Unit initiated the investigation after receiving a complaint from the management of Johnson Bros. of R.I. Co. (Johnson Bros.), a liquor distributorship located in North Kingstown, Rhode Island. Iarocci was a sales representative for Johnson Bros. The investigation revealed that from July 2012 through August 2013, Iarocci collected cash payments from five customers and failed to forward the payments to the company. In order to conceal the alleged theft, Iarocci convinced a customer to make overpayments on their account and applied the overpayments to cover the missing cash. The total amount of Iarocci's alleged theft is $40,031.00.
Iarocci was processed at the Wickford Barracks and arraigned in Third Division District Court. The Honorable Associate Judge William C. Clifton released Iarocci on $20,000 personal recognizance and set a screening date of December 11, 2013.