GREENWICH, Conn. (AP) — A Connecticut man has pleaded guilty to his role in an investment fraud scheme.
Prosecutors say 58-year-old Leonid "Lenny" Pollak entered his plea Monday to charges of wire fraud and illegal monetary transaction.
The Greenwich man owned a Norwalk-based company that organized trade shows and expositions across the U.S.
Prosecutors say in 2013 he persuaded an acquaintance to invest money in a new business venture that would organize similar expositions in Ukraine.
Instead of using the money on the business, prosecutors say Pollak spent about $250,000 on groceries, his home mortgage and private school tuition.
He faces up to 30 years in prison during his sentencing scheduled for June.