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Real estate attorney arrested after stealing more than $1 million from clients: Police

In March of 2022, the Norwalk Police received several complaints that Carl Ferraro withheld funds from clients during real estate closings.
Credit: AP
FILE - In this June 15, 2018 file photo, twenty dollar bills are counted in North Andover, Mass. Rising prices can feel impossible to manage if money is already tight. To stay afloat, prioritize essential expenses that enable you to live and work. (AP Photo/Elise Amendola, File)

NORWALK, Conn — A real estate attorney accused of stealing more than $1 million from his clients was arrested for larceny, police said.

In March 2022, Norwalk police received several complaints alleging 57-year-old Carl Ferraro, of Darien, withheld funds from clients during real estate closings.

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After an investigation, detectives determined that more than $1 million was stolen from more than half a dozen clients.

According to police, Ferraro would set up home closings and keep the money instead of giving it to the sellers.

Several arrest warrants were issued based on the findings of the investigation.

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Ferraro was taken into custody on the warrants without incident. He was charged with eight counts of first-degree larceny and held on a $4.3 million bond.

Anyone with further information is encouraged to contact Detective Sura at 203-854-3039.

Ashley RK Smith is an assignment editor at FOX61. She can be reached at asmith@fox61.com.

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