United States Attorney's Office District of Connecticut
Press Release

FORMER SENIOR VICE PRESIDENT OF AMERICAN INSTITUTE FOR FOREIGN STUDY PLEADS GUILTY TO EMBEZZLING $383,000

Kevin J. O'Connor, United States Attorney for the District of Connecticut, today announced that ROBERT CRISTADORO, age 54, of 221 Charter Oak Road, Southbury, Connecticut, has waived indictment and pleaded guilty today to a one-count Information alleging that he embezzled approximately $383,000 from the American Institute For Foreign Study, which is located in Stamford, Connecticut. United States District Judge Stefan R. Underhill accepted CRISTADORO's plea of guilty today in Bridgeport.

The American Institute for Foreign Study ("AIFS") provides opportunities for overseas educational and cultural experiences. In the wake of September 11, 2001, AIFS began a program to distribute American Express gift checks as rewards to college-age study abroad participants who maintained their enrollment in an AIFS study abroad program following September 11, 2001, referred other participants to AIFS, or participated in a second AIFS study abroad program. CRISTADORO was a Senior Vice President of the AIFS College Division and was responsible for ordering, maintaining, and distributing gift checks to eligible individuals.

At the plea proceeding, CRISTADORO admitted that, between 1986 and July 2003, he caused AIFS to purchase approximately $200,000 worth of American Express gift checks and then misappropriated approximately $129,900 worth of the gift checks. He also admitted that he created false invoices for vendor services in order to obtain an additional $253,475. Thereafter, CRISTADORO converted the funds to his own use.

When he is sentenced by Judge Underhill on August 5, 2004, CRISTADORO faces a maximum term of imprisonment of twenty years and a $250,000 fine. As part of his plea agreement, CRISTADORO has agreed to pay restitution in the amount of $224,939 to Chubb, which insured the American Institute for Foreign Study, and in the amount of $76,764 to American Institute for Foreign Study, for uninsured costs related to his embezzlement.

The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney James J. Finnerty.

CONTACT:

U.S. ATTORNEY'S OFFICE
Tom Carson
(203) 821-3722
thomas.carson@usdoj.gov