Greenwich resident Samuel Klein has pleaded guilty to fraud and money laundering offenses related to an investment scheme.
According to the charges brought against him, Klein controlled five different investment-focused entities. Between July 2016 and June 2019, Klein defrauded four investors of $1.45 million through false representations.
The greatest swindle involved an investor who entrusted one of Klein”™s entities with a check for $200,000 for a purported investment in distressed debt, which was followed by another payment of $50,000.
Klein used the funds that he gained from his victims for personal and other expenditures. He pleaded guilty to one count of interstate transportation of property taken by fraud and one count of money laundering, and each offense carries a maximum term of imprisonment of 10 years.
Klein, who has agreed to pay restitution of roughly $1.5 million, is scheduled to be sentenced on Nov. 22. He is free on a $500,000 bond pending sentencing.
