Woodbridge Bankruptcy Attorney Embezzled Client's Money: U.S. Attorney

WOODBRIDGE, CT - Bankruptcy attorney Peter Ressler was charged Monday by federal prosecutors with allegedly embezzling hundreds of thousands of dollars from clients, announced United States Attorney Deirdre M. Daly.

Ressler, 68, who lives in Woodbridge but has a practice in New Haven, was charged with Embezzlement of Debtor Funds, which can carry a maximum prison sentence of five years.

"As alleged in the criminal complaint, the U.S. Bankruptcy Court for the District of Connecticut contacted the U.S. Attorney’s Office after it identified criminal conduct by Ressler in at least two cases involving debtors that were his clients," said Daly in a statement. "In one case, the debtor entrusted Ressler with $450,000, which were proceeds of a legal settlement, to be held by Ressler’s firm for the benefit of the debtor and its creditors. In a second case, the debtor entrusted Ressler’s firm with approximately $321,409. In both cases, most of the deposited funds were used by Ressler for other purposes than on behalf of the relevant clients."

Daly added that Ressler is cooperating with the investigation and with prosecutors, who are looking into the alleged embezzlement of money from additional clients.

Ressler resigned from the Connecticut bar in March.

He appeared in court Monday afternoon before U.S. Magistrate Judge William I. Garfinkel in Bridgeport and was released after posting a $100,000 bond.

The case is being investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.