Breaking News
More () »

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. (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.

RELATED: Yes, Medicare card replacement phone calls are a scam

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.

RELATED: 84-year-old Avon man commits armed robbery at Torrington bank: Police

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.

Sign up for the FOX61 newsletters: Morning Forecast, Morning Headlines, Evening Headlines


Have a story idea or something on your mind you want to share? We want to hear from you! Email us at newstips@fox61.com


Download the FOX61 News APP

iTunes: Click here to download

Google Play: Click here to download

Stream Live on ROKU: Add the channel from the ROKU store or by searching FOX61.

Steam Live on FIRE TV: Search ‘FOX61’ and click ‘Get’ to download.


Before You Leave, Check This Out