Publication: theday.com

Published 10/20/2010 12:00 AMUpdated 10/20/2010 12:09 PM

Hartford-- A federal magistrate released Norwich accountant F. Robert LaSaracina on $500,000 bond this morning after he was presented in U.S. District Court on federal charges of mail fraud, wire fraud and money laundering.

LaSaracina has been charged in state Probate Court of defrauding a family estate of millions of dollars and is named in a number of Superior Court suits by plaintiffs who allege he has defrauded them by taking money for purported investments.

The U.S. Attorney's Office is charging him with devising and executing a scheme to obtain monety and property from victms for his personal and business expenses.

U.S. Magistrate Judge Donna F. Martinez ordered LaSaracina to surrender his passport by noon Friday; restricted him to Connecticut; ordered him to avoid contact with any person who might become a witness for the prosecution and anyone who has invested money with him; and directed him to refrain from excessive use of alcohol and drugs.

He was ordered to submit to an evaluation for the treatment of gambling addiction and forbidden from entering any casino. Any financial transaction for more than $500 that involves him must be approved by the U.S. Probation Office.