NEW HAVEN, CT — A 57-year-old Madison man pleaded guilty Tuesday in U.S. District Court to federal fraud charges, the U.S. Attorney said.
Brian Hughes, who was arrested in January 2021, pleaded guilty to one count of wire fraud, one count of making an illegal monetary transaction, and one count of tax evasion. He’s agreed to pay nearly $3 million in restitution to the IRS and investors he defrauded, according to Leonard C Boyle, U.S. Attorney for the District of Connecticut. Out on a $250,000 bond, he faces up to 35 years in prison when sentenced.
Arrested in January 2021, he was facing many more counts on each charge he pleaded out to Tuesday.
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According to prosecutors and federal investigators, Hughes ran a scheme to defraud investors of an alcoholic beverage company, Handcrated Brands of Branford. His company promoted its brand, Salute American Vodka, which its website and Facebook page said was “committed to supporting our nation’s heroes.” On its Facebook page, it’s noted that “For every bottle sold, one dollar is donated to support veterans and other American heroes.”
The vodka brand website had read that its “mission to support veterans and other heroes as they work to further their careers, start small businesses, and achieve the American dream…”
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The indictment alleges that in March 2015, Hughes founded…
