Norwich accountant expected to plead guilty in federal fraud case

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Norwich accountant expected to plead guilty in federal fraud case.
Posted Jul 20, 2011 @ 10:44 PM

Norwich accountant F. Robert LaSaracina is expected to enter a guilty plea today in his ongoing federal fraud and money-laundering case.
A hearing has been scheduled for 1 p.m. at U.S. District Court in Hartford for a “waiver of indictment and guilty plea proceeding” before U.S. District Judge Christopher F. Droney, according to the U.S. Attorney’s Office.
Previous hearings have been postponed to allow time “to permit a negotiated resolution and guilty plea,” according to court records.
Federal charges were lodged against LaSaracina in October after an FBI investigation into an alleged scheme to defraud clients, including trust beneficiaries, by diverting money for his own use and others with whom he has a relationship, according to the U.S. Attorney’s Office.
The arrest followed a Norwich Probate Court ruling in which LaSaracina was ordered to pay $4.2 million for mishandling a trust fund account for the Kauppinen family, for which LaSaracina was the trustee. The probate court found LaSaracina was selling trust-owned properties and mortgaging others and using proceeds to pay off outstanding loans and generate cash, according to federal officials.
In the federal criminal case, he faces one count each of mail fraud, wire fraud and money laundering.
He is the target of several civil suits from investors.
He was charged by the Department of Revenue Services tax enforcement division in November for failure to file and pay tax returns for his own business, F. Robert LaSaracina CPA, LLC at 209 W. Town St. in Norwich. That case is pending in Hartford Superior Court.
LaSaracina is free on $500,000 bond in the federal case.

Please read complete article at link below:

 http://www.norwichbulletin.com/archive/x121488140/Guilty-plea-possible-Thursday-in-LaSaracina-case#ixzz1SzBtEecg
 
Editor's note:  Feds; why waste your time on a small time crook like LaSaracina! Your ProbateShark will show you where the big money is being laundered and stolen on the 18th floor of the Daley building in Chicago. One of the judges wears a rock on her finger the size of the "Hope Diamond"... on a judges salary?  Lucius Verenus, Schoolmaster, ProbateSharks.com