NEW HAVEN, Conn. (AP) — Federal prosecutors want a Venezuelan-American financier to hand over a large tax refund while he awaits sentencing in a massive Connecticut-based fraud scheme.
Prosecutors say Francisco Illarramendi (ee-yah-rah-MEHN'-dee) misused an earlier refund and faces paying restitution that could be hundreds of millions of dollars.
Prosecutors say they believe the refund check to Illarramendi and his wife exceeds $2 million and want it deposited with the court pending his Stepember sentencing.
Illarramendi pleaded guilty in 2011 to several counts of fraud and conspiracy to obstruct justice in a scheme to conceal huge losses. His biggest client was a pension fund for state oil workers in Venezuela.
Illarramendi's attorney didn't object. But a lawyer for Illarramendi's wife believes the check must be deposited with a judge overseeing the case and says she wants a portion to pay her living expenses.