Press Release  Wellesley Man Pleads Guilty, Sentenced for Stealing Nearly $600,000 from Shareholders

Boston — A Wellesley man has pleaded guilty and has been sentenced in connection with stealing nearly $600,000 from a shareholder account he was entrusted to protect, Attorney General Maura Healey announced today. 

Paul Pyzowski, 50, of Wellesley, pleaded guilty this week in Middlesex Superior Court to the charges of Fiduciary Embezzlement, Larceny over $250 by Embezzlement, and Money Laundering.

The plea took place on August 30, 2016 before Judge Maureen Hogan. After the plea was entered, Judge Hogan sentenced Pyzowski to 10 years of probation with a number of conditions. Pyzowski was also ordered to pay restitution to the victims on a monthly basis.

This investigation was referred to the Attorney General’s Office by the Federal Bureau of Investigations.

On February 1, 2013, Westborough-based Pall Corporation acquired Woburn-based Boston Microsystems (BMS). Pyzowski was appointed as stockholder representative, tasked with managing all finances on behalf of all BMS shareholders, including distributing payments to each shareholder.

As part of the merger, Pall Corporation wired $600,000 into the shareholder bank account Pyzowski controlled. Pyzowski acknowledged to the shareholders he received the funds and that they would receive their payments, however months went by and he failed to distribute the funds properly. Further investigation found that Pyzowski made 20 unauthorized wire transfers from the shareholder account into his personal and business accounts. In total, he transferred $587,250 into his personal and business accounts.

This case was prosecuted by Assistant Attorney General Sara K. Yoffe of AG Healey’s White Collar and Public Integrity Division, with assistance from Financial Investigator Daniel DeAngelis of the Financial Investigations Division of the AG’s Office, State Police assigned to the AG’s office, and Victim Witness Advocate Amber Anderson of the AG’s Victim Services Division.

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