NORWALK — An embattled longtime local lawyer is dealing with various rates of larceny — accused of stealing almost $2 million from his clients’ genuine estate transactions — soon after his arrest in Norwalk.
Carl Ferraro of Darien practiced law in Connecticut for a lot more than 30 many years right up until his license was suspended previously this calendar year through an investigation that led to the costs. He was arrested Wednesday on eight counts of 1st-diploma larceny, the Norwalk Police Department’s arrest log says.
Court files allege that Ferraro stole a lot more than $1.85 million from customers of his Norwalk legislation observe even though holding their money in escrow from real estate transactions. In other circumstances, Ferraro unsuccessful to hand in excess of income from authentic estate transactions, according to files.
Ferraro, 57, appeared nearly Thursday ahead of Choose Kevin Randolph in Outstanding Court docket in Stamford. Randolph set a bond of $1.2 million in the situation: $150,000 for each of the eight counts filed against Ferraro. From each of the clientele, Ferraro allegedly stole quantities ranging from $68,800 to $922,536 involving November 2021 and March 2022.
His attorney, Suzanne Sutton of Bridgeport-primarily based business Cohen and Wolf, reported that Ferraro “at this level does not have the capability to post bond” because of to “serious mental and bodily wellness situations” that precipitated his alleged crimes and arrest.
“He’s been having difficulties with people concerns for very some time, which is actually what led us to this level,” she claimed. Ferraro had been in and out of hospitals and rehab amenities since resigning from the point out bar association on April 22 and has considering the fact that “been diagnosed” by health care professionals, Sutton said.
“First and foremost, it truly is extremely sad for the victims,” she mentioned. “There’s too a lot of victims and too significantly revenue and a good deal of ache, but he is he is sensation very remorseful.”
She declined to comment on the mother nature of Ferraro’s problem but moved to increase the documents associated to his condition to the court docket documents.
If Ferraro posts bond, Randolph stipulated that he would be matter to GPS tracking and a curfew at the discretion of probation officers. He also would be barred from calling any of his alleged victims.
Ferraro’s license to exercise law was suspended on March 15, just after a point out decide wrote in an buy that he “poses a threat of irreparable hurt to present and prospective customers,” civil courtroom filings exhibit.
At minimum four of Ferraro’s clientele claimed at the time that they were owed dollars from authentic estate closings, the courtroom filings mentioned. Court data demonstrate Ferraro had 8 grievance complaints as of June 14. In April, he resigned from the state bar and waived his privilege to search for readmission.
Even though Ferraro is billed with eight counts of larceny, Sutton explained she is “not ruling out” the chance of added rates from her consumer, presented the early phases of the circumstance.
“Usually in these kinds of procedures … at times individuals do not even know which is one thing until they hear about it in the news,” she claimed. Nonetheless, in the numerous months given that victims filed problems versus Ferraro, no supplemental grievances have been submitted.
Ferraro is up coming scheduled to appear in court docket on Aug. 15.
The grievances mentioned in the civil court docket paperwork include allegations that Ferraro unsuccessful to distribute the total proceeds from authentic estate profits to consumers. A person lady claimed that she built a down payment on a assets that was held in escrow by Ferraro but “was recommended by her lawyers that the monies held by Legal professional Ferraro are now missing,” according to a civil submitting.
Norwalk police also experienced an investigation into these claims by his previous clientele, according to the civil court docket filings.
Ferraro’s practice was put in the treatment of a trustee in March just after his legislation license was suspended. The trustee informed the courts he was in a position to attain access to Ferraro’s office environment by climbing by way of an unlocked window.
Editor’s notice: This story has been current to correct who allegedly failed to hand in excess of profits from authentic estate transactions.
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