Former real estate attorney stole nearly $1.8 million from clients
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A former real estate legal professional, who’s previously being sued around allegations he did not shell out clients for authentic estate closings, is now in custody. Carl Ferraro, 57, of Darien, was arrested Wednesday and arraigned Thursday on eight counts of larceny.
State’s Lawyer Paul Ferencek advised the court docket Ferraro stole more than $1.782 million from his customers, incorporating “So there is a enormous loss there.” Ferencek said Ferraro, whose business was in Norwalk, represented sellers in serious estate discounts but just after the closings, saved the income supposed for the sellers. Ferencek also said Ferraro was intended to flip himself in to Norwalk police when he obtained out of rehab in May possibly, but that did not come about.
Norwalk police commenced investigating in March after various issues, together with from Joe Jensen and his daughter Dana Jensen.
“When I heard he was arrested, I felt a joy like deep down inside,” Dana Jensen instructed News 12, having emotional.
Dana Jensen was the listing agent on her childhood house in Norwalk which her father place on the industry. She claimed Ferraro came hugely suggested to them and there have been no pink flags until eventually soon after the closing when he put off turning the dollars in excess of to them. Immediately after quite a few days, Dana Jensen claimed she and her father just confirmed up at his office environment and picked up their checks.
Court docket documents present Joe Jensen was issued a examine for $853,965.91 for the sale of his residence, and Dana Jensen gained a person for $41,400 for her commission. She mentioned both equally of them deposited the checks but under no circumstances observed any of the money.
“Without telling us, he issued a cease payment. He took every thing. It was my father’s retirement,” Dana Jensen reported. “To have it all stolen from us is intestine-wrenching.”
In court docket, Ferencek told the judge there are 8 data files with similar stories, and every has several victims.
Sutton told Information 12, “He is having difficulties with some really serious psychological and physical overall health scenarios, and he’s been battling with individuals challenges for fairly some time which, you know, is really what led us to this point.”
Sutton explained her consumer has been to two rehab facilities a short while ago and was in the clinic, like Wednesday.
“I think that it was a background of some undiagnosed difficulties, and then some self-medicating and unfortunately that crescendo,” Sutton included. “It’s just a very unfortunate circumstance all-close to. Carl was a properly-revered, effectively-liked lawyer, good lawyer right until these wellness and physical troubles arrived about. And initially and foremost, it is very sad for the victims. It is also lots of victims and far too a lot money and a ton of soreness. But he definitely is very remorseful and understands what’s heading on in this article.”
Choose Kevin Randolph established Ferraro’s bond at $1 million, which Sutton reported he can not put up at this place. If he’s ready to in the potential, he will be subject matter to GPS monitoring and a curfew.
Norwalk law enforcement explained their investigation is ongoing. Everyone with even more information and facts is asked to contact Detective Sura at 203-854-3111.
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