HARTFORD — Marc H. Silverman, acting United States attorney for the District of Connecticut, and Anish Shukla, acting special agent in charge of the New Haven Division of the Federal Bureau of Investigation, announced that on April 18, Timothy Mingione, 33, of Newtown, waived his right to be indicted and pleaded guilty before US District Judge Alvin W. Thompson in Hartford to an offense related to his theft of nearly $3 million to fund his day trading activity.

According to court documents and statements made in court, Mingione assisted investors in the purchase of real estate and then became the designated asset manager for the acquired properties, including overseeing the properties, addressing tenancy issues associated with the real estate, and reviewing property financials. In this role, Mingione had access to bank accounts required for property management.

Mingione provided purchase and asset manager services for a New York-based real estate company, worked with a syndicate of investors involved in the purchase and management of five real estate properties in Connecticut and Florida, and worked as an asset manager for various other limited liability companies.

Beginning in approximately April 2023, to fund his day trading activity, particularly in S&P 500 options, Mingione stole from the various business bank accounts he had access to by writing checks against the accounts or by wiring monies from the accounts to his personal trading account with TD Ameritrade.

Mingione tracked the monies he stole and, at times, returned funds to the accounts he had stolen from. By late spring 2024, however, he had amassed more than $1 million in trading losses and, by the end of September 2024, had stolen nearly $3 million.

Mingione pleaded guilty to one count of interstate transmission of stolen money, which carries a maximum term of imprisonment of 10 years. Judge Thompson scheduled sentencing for July 15.

Mingione has agreed to pay restitution of $2,958,203.

Mingione is free on a $40,000 bond pending sentencing.

This investigation is being conducted by the Federal Bureau of Investigation and the case is being prosecuted by Assistant US Attorney Christopher W. Schmeisser.