Norwalk Man Accused of Defrauding Investors of $400k

Norwalk resident James Neilsen, 55, was arrested and charged with defrauding investors out of more than $400,000.

Neilsen allegedly defrauded three individuals by convincing them to invest money with him, according to the U.S. Attorney District of Connecticut office.

Neilsen allegedly used the money to pay other investors along with using it for personal use.

He was charged with wire fraud, which carries a maximum imprisonment term of 20 years.