NEW HAVEN, Conn. (AP) — A man is facing sentencing for running a multimillion-dollar fraud scheme through a Connecticut company.
Federal prosecutors say Garrett Denniston cheated more than 50 people out of more than $3.4 million through a company called ConsensusOne. Instead of investing the victims’ money, he used it for business and personal expenses such as ski outings and country club memberships.
Denniston, a former resident of Newtown, and Boothbay Harbor, Maine, pleaded guilty in February to wire fraud and is scheduled to be sentenced Tuesday in New Haven.
Denniston’s attorney says he committed the fraud while suffering from a mental illness involving significant mood swings and deep depression and is seeking a four-year prison sentence. Prosecutors say he defrauded his closest friends and families and deserves a lengthy prison sentence.