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U.S. Attorney Preet Bharara said Harold James Pickerstein waived his right to indictment before U.S. District Judge Victor A. Bolden in federal court in Bridgeport as he pleaded guilty to one count of mail fraud.
According to court documents and statements made in court, Pickerstein represented an individual and served as the trustee for an investment account held for the benefit of the victim. Between August 2011 and October 2013, he withdrew $613,216.20 from the Trust Account without authorization from the victim and used the funds to pay for personal expenses, including payments to state and federal tax authorities to satisfy his tax liabilities.
In November 2013, Pickerstein was to disburse all remaining funds in the Trust Account to the victim. After the victim asked why the disbursed funds were less than expected, Pickerstein sent a letter in which he falsely represented that a portion of the Trust Account’s funds had been deducted to pay legal bills.
He faces a maximum of 20 years in prison, a fine of up to $1.2 million, and $633,410.04 in restitution.
Pickerstein resigned from the Connecticut bar in December 2014.
This matter has been investigated by FBI and prosecuted by Assistant U.S. Attorney William J. Nardini.
The U.S. Attorney for the Southern District of New York has been overseeing the case because of the recusal of the U.S. Attorney’s Office for the District of Connecticut.
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