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A federal grand jury in New Haven returned an indictment charging Greenwich resident Leonid “Lenny” Pollak, 58, with federal offenses related to an investment fraud scheme, John Durham, the United States Attorney for the District of Connecticut, announced on Thursday.
Pollak was arrested on Thursday morning and arraigned in New Haven. He’s currently behind held, pending his next court appearance.
According to the indictment, Pollak owned a Norwalk-based company that organized trade shows and expositions throughout the country. In 2013, Pollak convinced an acquaintance to invest $290,000 in a new business venture that was supposed to provide similar services in Ukraine.
Durham said that instead of building a business overseas, Pollak spent nearly all of it on unrelated business and personal expenses, including his home mortgage loan, groceries, clothes, cars and private school tuition.
The indictment charges Pollak with six counts of wire fraud, which carries a maximum term of up to 20 years in prison for each count. He’s also been charged with two counts of illegal monetary transactions, which carries a maximum term of 10 years in prison for each count. Pollak is scheduled to appear in court on a later date to answer the charges.
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