Samuel Klein, Investment Fraud, Connecticut 2020

A Greenwich resident faces federal charges for allegedly operating an investment fraud scheme, netting over $250,000 from an unsuspecting victim-investor.

Samuel Klein, 64, of Greenwich, Connecticut, was charged with one count of interstate transportation of property taken by fraud and one count of money laundering following a federal grand jury indictment on December 7, 2020.

The indictment alleges that Klein made false representations to the victim-investor, claiming that their funds would be invested in distressed debt. However, Klein knew that the funds would not be used for the stated purposes and would instead be utilized for personal and other expenditures.

Klein solicited and received a total of $250,010 from the victim-investor, writing a check for $200,000 and subsequently soliciting an additional $50,010 by falsely representing that he needed to purchase title insurance.

The Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation Division are investigating the matter, with Assistant U.S. Attorney Jennifer Laraia handling the prosecution.

Klein appeared via videoconference before U.S. Magistrate Judge Holly B. Fitzsimmons on [date] and was released on a $500,000 bond. He is presumed innocent until proven guilty beyond a reasonable doubt.

The indictment charges Klein with one count of interstate transportation of property taken by fraud and one count of money laundering, both of which carry a maximum term of imprisonment of 10 years.

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