Two men were arrested by Plainville police in connection to a fraud investigation involving a now defunct property management firm.
Police said they received complaints starting March 15 from several condominium associations in Plainville and Bristol regarding missing funds from their bank accounts and other suspicious activity involving the now defunct property management company, D & H Management, previously of 55 Whiting St. in Plainville.
With the assistance of fraud investigators from Farmington Bank and Webster Bank, police said Plainville detectives conducted an extensive investigation into the finances of the 26 condominium associations. The investigation found evidence that between January 2014 and March 2015, the owner of D & H Management, 36-year-old Devin Hill, conducted 133 unlawful cash withdrawals, diverted 343 checks, and wrote 105 checks to a fraudulent account that he created, wrongfully appropriating $275, 527.51. It was also discovered that Hill received assistance from two co-conspirators including a former employee of D&H Management, 26-year-old Dereck Cutone.
On Dec. 7, police said Devin Hill was arrested and charged with larceny first degree, conspiracy to larceny first degree, conspiracy to larceny second degree, and identity theft first degree. He was released after posting a $150,000 bond. He is scheduled to appear in Bristol Superior Court on Dec. 21.
On Dec. 7, police said, Dereck Cutone was arrested and charged with conspiracy to commit larceny second degree. He was released on a $5,000 non-surety bond and is scheduled to appear in Bristol Superior Court on Dec. 21.
Devin Hill
Dereck Cutone