PORTLAND, Maine — A Connecticut man has pleaded not guilty to defrauding an elderly Maine man out of more than $500,000.
Peter DiRosa of Manchester, Conn., entered his plea during his arraignment on a wire fraud charge Thursday in U.S. District Court in Portland.
Prosecutors allege that DiRosa persuaded a Kennebunk man to invest $600,000 in retirement funds in a Hungarian resort development.
The Portland Press Herald reports that the alleged victim was told in May 2008 that his money would be returned after six months, along with interest and $400,000 in profit. Prosecutors say he only got $60,000 back.
Authorities say DiRosa wired $600,000 from a Kennebunk bank account to an account in Hungary.