Feds: Greenwich man charged in investment fraud scheme
GREENWICH — A Greenwich man was recently charged in connection with an investment fraud scheme, the Department of Justice said.
On Sept. 12, a federal grand jury returned an indictment for Leonid “Lenny” Pollak, 58, on six counts of wire fraud and two counts of illegal monetary transactions.
The DOJ said Pollak was arrested Thursday morning and appeared in court in the afternoon. The judge ordered him detained.
The indictment alleges that Pollak owned a Noralk-based company that organized expositions and trade shows throughout the nation. And in mid-2013, Pollak apparently convinced an acquaintance to invest $209,000 in a new business venture to organize similar expositions in Ukraine.
“Instead of using the money to build the new business, Pollak spent nearly all of it on unrelated business and personal expenses, including Pollak’s home mortgage loan, groceries and clothing, automobiles, and private school tuition,” the DOJ said.
The six counts of wire fraud that Pollak was charged with carries a maximum term of 20 years in prison per count. The illegal monetary transaction charge comes with a maximum term or 10 years in prison per count.