Acting United States Attorney for the District of Connecticut, Marc H. Silverman, along with Anish Shukla, Acting Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, reported that on April 18, 2025, Timothy Mingione, a 33-year-old from Newtown, entered a guilty plea to charges related to the theft of nearly $3 million. The plea was made before U.S. District Judge Alvin W. Thompson in Hartford.
Court documents and statements detailed Mingione's role in assisting investors with real estate purchases and his responsibilities as an asset manager. This included managing the properties, handling tenancy issues, and reviewing financials. In his capacity, he accessed bank accounts necessary for property management, while providing services for a New York-based real estate company and several other limited liability companies.
From approximately April 2023, Mingione began misappropriating funds to support his day trading in S&P 500 options. He diverted money from business bank accounts by writing checks or authorizing wire transfers to his personal TD Ameritrade trading account. Though he occasionally returned funds, by late spring 2024, Mingione had incurred over $1 million in trading losses, escalating to nearly $3 million by September that year.
Mingione pleaded guilty to a single count of interstate transmission of stolen money, which carries a potential maximum sentence of 10 years in prison. His sentencing is set for July 15. Mingione has agreed to restitution payments totaling $2,958,203 and is out on a $40,000 bond awaiting sentencing.
The investigation is being handled by the Federal Bureau of Investigation, with Assistant U.S. Attorney Christopher W. Schmeisser prosecuting the case.
