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Press Release

Former Norwalk Resident Admits Stealing $150,000 Through Investment Fraud Scheme

For Immediate Release
U.S. Attorney's Office, District of Connecticut

Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that PATRICK CASTAGNA, 55, of Sarasota, Fla., formerly of Norwalk, waived his right to indictment and pleaded guilty today before U.S. District Judge Janet Bond Arterton in New Haven to one count of wire fraud stemming from an investment fraud scheme.

According to court documents and statements made in court, in February 2011, CASTAGNA offered an individual a purported investment opportunity in a telecommunications company.  The individual gave CASTAGNA $150,000 to invest based on CASTAGNA’s representations and wired $150,000 to a bank account controlled by CASTAGNA.  CASTAGNA did not invest the money as promised, but rather used the money for his own personal expenses.  Between February and September 2011, CASTAGNA made misrepresentations to the victim concerning the purported investment.

Judge Arterton scheduled sentencing for February 4, 2015, at which time CASTAGNA faces a maximum term of imprisonment of 20 years.

This matter was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Christopher M. Mattei.


Tom Carson
(203) 821-3722

Updated March 18, 2015