Man pleads guilty to investment fraud scheme

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.