Press Release  Former Employee Indicted in Connection with Stealing More Than $2 Million from Real Estate Company

Boston — A former employee at First Bristol Corporation has been indicted in connection with allegedly stealing more than $2 million from the real estate development company, Attorney General Maura Healey announced today.

Suzanne Coriaty, age 59, of Somerset, was indicted today by a Bristol Grand Jury on charges of Larceny Over $250 and False Entries in Corporate Books (two counts each). She will be arraigned in Bristol Superior Court at a later date.

“Our office alleges that this defendant abused her role at this real estate company and seriously violated her employer’s trust by stealing millions of dollars for her own personal gain,” said AG Healey.

The AG’s Office began an investigation in November 2015 after a referral from the Bristol District Attorney’s Office. First Bristol Corporation (First Bristol) is a privately held real estate development and management company based in Fall River. In her position as controller, Coriaty was responsible for supervising the company’s bookkeeping staff, and had authority to issue checks from all of First Bristol’s checking accounts. Prior to her termination in November 2015, Coriaty had worked for First Bristol for almost 30 years.

Authorities allege that between 2007 and 2015, Coriaty used two different schemes to steal funds from the company. Through the first, she allegedly requested checks payable to Citibank by falsely stating that they would be used to pay for the president’s credit card. Coriaty then used these unauthorized First Bristol checks to pay for her own personal credit cards. 

Through the second scheme, Coriaty allegedly made out checks to herself drawn on First Bristol’s payroll account. She allegedly made entries to make it appear that these checks would be payable to other employees as bonuses, commissions, or reimbursement payments.  In total, Coriaty allegedly stole $2,371,008.82.

These charges are allegations and the defendant is presumed innocent until proven guilty.

This case is being prosecuted by Assistant Attorneys General Gabriel Thornton and Sara Yoffe, of AG Healey’s White Collar and Public Integrity Division. This case was investigated by Stephen Bethoney of AG Healey’s Financial Investigations Division and Massachusetts State Police assigned to the AG’s Office and to the Bristol District Attorney’s Office.

###