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Greenwich Man Charged with Investment Fraud Scheme
A Greenwich man has been charged with running a massive investment fraud scheme that swindled an acquaintance out of nearly $290,000. Leonid Pollak, also known as ‘Lenny,’ 58, of Greenwich, was arrested this morning and appeared before U.S. Magistrate Judge Robert M. Spector in New Haven. He was ordered detained.
As alleged in the indictment, Pollak owned a Norwalk-based company that organized trade shows and expositions throughout the U.S. In mid-2013, he induced an acquaintance to invest $290,000 in a new business venture that was supposed to organize similar expositions in Ukraine. However, instead of using the money to build the new business, Pollak spent nearly all of it on unrelated business and personal expenses, including his home mortgage loan, groceries and clothing, automobiles, and private school tuition.
The indictment charges Pollak with six counts of wire fraud, an offense that carries a maximum term of imprisonment of 20 years on each count, and two counts of illegal monetary transactions, an offense that carries a maximum term of imprisonment of 10 years on each count.
U.S. Attorney John H. Durham stressed that an indictment is not evidence of guilt. ‘Charges are only allegations, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt,’ he said.
This matter is being investigated by the Federal Bureau of Investigation, Internal Revenue Service – Criminal Investigation Division, and U.S. Secret Service, with assistance from the Greenwich Police Department. The case is being prosecuted by Assistant U.S. Attorney Avi M. Perry.
According to the indictment, Pollak’s scheme was a brazen one, with him using the victim’s money to fund his own lavish lifestyle. ‘Pollak’s actions were a clear betrayal of trust,’ said Durham. ‘He took advantage of someone’s confidence in him to line his own pockets.’
Pollak’s arrest is a significant blow to the community, and a reminder that investment scams can happen to anyone. ‘This case serves as a stark reminder of the importance of doing your due diligence when investing in any business venture,’ said Durham. ‘We urge everyone to be cautious and to report any suspicious activity to the authorities.’
Key Facts
- State: Connecticut
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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