Mark Pagani, $1.3M Wire Fraud, Massachusetts 2015

A Bolton man pleaded guilty to a $1.3 million fraud scheme in federal court, according to officials.

Mark Pagani, 60, waived his right to be indicted and pleaded guilty to conspiracy to commit wire fraud and tax evasion offenses. The crimes occurred from 2013 to at least August 2015.

Pagani conspired with another person, identified as K.S., who is now deceased, to defraud a victim investor of more than $1 million. K.S. arranged investment deals with the victim, including the purported acquisition of mortgages on properties.

Pagani drafted documents to memorialize certain investment deals, accepted funds from the victim and held the funds in accounts he controlled, and he transferred funds to entities controlled by K.S. and others. The victim wired more than $1.3 million to an account Pagani controlled for a third investment that was not legitimate.

To conceal the fraud and create the appearance that it was a legitimate investment, Pagani wired false interest payments to the victim. He also used his law firm account to pay for personal and other expenses, underreporting his income on his federal tax returns and resulting in a tax loss of $181,702 for the 2014 through 2017 tax years.

Pagani, a former practicing attorney with a law office in Wethersfield, pleaded guilty to one count of conspiracy to commit wire fraud and one count of tax evasion. Each offense carries a maximum term of imprisonment of five years.

Pagani is scheduled to be sentenced by U.S. District Judge Vanessa L. Bryant on December 15, 2021, in Hartford. He has agreed to pay restitution of $1,055,092.50 to the victim investor, and $181,702 in tax to the IRS. This is Pagani’s third federal conviction.

The matter is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation Division. The case is being prosecuted by Assistant U.S. Attorneys Michael S. McGarry and Jennifer R. Laraia.

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