Connecticut Man Pleads Guilty to Wire Fraud, Faces Up to 20 Years in Prison for Misappropriation of Trust Funds

A man from Connecticut has chosen to give up his right to be accused and has admitted to committing fraud, according to federal authorities. Curtis Solsvig, aged 69 and residing in Stamford, pleaded guilty to this offense in front of U.S. District Judge Sarala V. Nagala in Hartford. As a result, he may now face a prison sentence of up to 20 years.

According to court documents and statements made during the trial, Solsvig was entrusted with managing a trust fund created by a married couple for the benefit of their two children. This occurred in 1996, and Solsvig, who is related to the victims, was appointed as the trustee.

However, federal authorities revealed that Solsvig misused his position of trust starting in 2011 and continued to do so for approximately eight years. During this time, he embezzled over $800,000 from the trust, using the funds for his own personal expenses. Shockingly, by the end of his scheme, only $20 remained in the trust account.

As a consequence of his actions, Solsvig pleaded guilty to one count of wire fraud. This offense carries a potential prison sentence of up to 20 years. Judge Nagala has scheduled his sentencing for March 5, 2024.

Solsvig has been released on a $250,000 bond, pending his sentencing. The case has been thoroughly investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Conor M. Reardon.

This case serves as a reminder of the importance of trust and the consequences faced by those who abuse it. The victims, in this instance a married couple, placed their faith in Solsvig as the trustee of their children’s trust fund. However, his betrayal has resulted in a significant loss of funds and potential ramifications for his own future.