Former Stamford real estate developer sentenced to 85 months for defrauding investors

John DiMenna, a 75-year-old former Stamford-based real estate developer, was sentenced to 85 months in prison, followed by three years of supervised release, on federal charges of defrauding investors and lenders.

DiMenna pleaded guilty last September to two counts of wire fraud related to a scheme that cost investors approximately $28 million and cost lenders approximately $37 million between 2010 and 2016. DiMenna and his business partners operated through several companies, including Seaboard Realty LLC, Seaboard Stamford Investment Group and Seaboard Properties Group LLC.

The case alleged DiMenna coordinated such activities as selling equity to investors on entities that were already fully subscribed, creating false financial documents and tax returns, forging names of two of his business partners on documents to secure financing, and providing investors inaccurate financial information in order to induce investors not to withdraw investments. Following his sentencing on April 10, DiMenna was released on a $250,000 bond and ordered to report to prison on July 9.