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Carl Ferraro, age 57, of Darien, was arrested on Wednesday, July 6 in Norwalk.
Police say they received numerous complaints against Ferraro that he had withheld money from clients during real estate closings, said Sgt. Sofia Gulino, of the Norwalk Police.
During a lengthy investigation by the detective bureau that involved over half a dozen victims, it was determined that Ferraro would facilitate home closings on behalf of the selling parties, and would keep the money given to him that was intended for the sellers, Gulino said.
Ferraro is alleged to have stolen over $1,000,000 from his clients, she added.
He has been charged with eight counts of first-degree larceny and is being held on a $4,325,000 bail.
Ferraro is due in Stamford Superior Court on Thursday, July 7.
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