Real estate lawyer arrested for withholding clients’ closing funds

Norwalk police announced the arrest of Carl Ferraro, a real estate attorney accused of stealing funds from his clients.

The Norwalk Police Department said it began to received complaints against Ferraro in March that he withheld clients”™ money during real estate closings and failed to pass the funds along to the sellers.

Ferraro, a Darien resident, was arrested on July 6 on eight counts of first-degree larceny for the theft of nearly $2 million, with his alleged thefts occurring between November 2021 and March 2022. He has not been able to post the $1.2 million bond ordered by a judge and remains in custody.

Photo courtesy of the Norwalk Police Department