Greenwich man pleads guilty in federal court to investment fraud

Greenwich resident Leonid “Lenny” Pollak pleaded guilty in New Haven federal court yesterday to offenses related to an investment fraud scheme.

As previously reported, Pollak, who was arrested on Sept. 20 of last year, owned an unspecified Norwalk company that organized trade shows and expositions throughout the U.S. In mid-2013, Pollak induced an acquaintance to invest money in a new business venture that was supposed to organize similar expositions in Ukraine.

Instead of using the money to build the new business, Pollak spent as much as $250,000 on unrelated business and personal expenses, including his home mortgage loan, groceries and clothing, automobiles and private school tuition.

Pollak pleaded guilty to one count of wire fraud, an offense that carries a maximum term of imprisonment of 20 years, and one count of illegal monetary transaction, which carries a maximum term of imprisonment of 10 years.

Pollak was released on a $200,000 bond pending sentencing, which is scheduled before U.S. District Judge Janet C. Hall on June 10.