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Connecticut man's scheme to fuel his day-trading habit has come crashing down, with a guilty plea to stealing nearly $3 million from his real estate investment business. The funds were siphoned off through a series of brazen transactions, including checks and wire transfers.

    Timothy Mingione, 33, of Newtown, opted out of an indictment and pleaded guilty before U.S. District Judge Alvin W. Thompson in Hartford to one count of interstate transmission of stolen money. This charge carries a maximum 10-year prison sentence.

    As the asset manager for a New York-based real estate company, Mingione worked with investors who pooled their resources to purchase and manage properties in Connecticut and Florida. He had unfettered access to business bank accounts, which he exploited to fund his trading activities.

    Between April 2023 and September 2024, Mingione's reckless trading led to over $1 million in losses. To recoup his losses, he stole nearly $3 million from the very business he was entrusted to manage. His ill-gotten gains will be repaid in full, with a restitution agreement of $2,958,203.

    Mingione posted a $40,000 bond and awaits sentencing on July 15.