Hartford Business Journal

4 Hartford Business Journal • June 24, 2019 • www.HartfordBusiness.com Week in Review Briefs U.S. Pain Foundation fraudster convicted The former CEO of Middletown-based U.S. Pain Foundation has been convicted on charges stemming from a $1.5 million embezzlement, federal prosecutors say. Paul Gileno, 46, of Brewster, N.Y., pleaded guilty June 17 in Bridgeport federal court to one count of wire fraud and one count of tax evasion, the Connecticut FBI and U.S. Attorney's Offices said. Gileno faces a maximum 25-year prison term when he is sentenced at a later date, prosecutors said. He is currently free on bond. As previously reported and according to investigators, Gileno abruptly resigned in May 2018, triggering an investigation by the foundation's board. The foundation, originally founded by Gileno as the CT Pain Foundation over a decade ago, provides support and resources for sufferers of chronic pain and their care providers. It became the U.S. Pain Foundation in 2011. The board's probe discovered Gileno had embezzled more than $1.9 million in funds and alerted criminal prosecutors, investigators said. Gileno also failed to pay more than $532,943 in federal income taxes on the ill-gotten proceeds for the 2015 through 2017 tax years. Pratt & Whitney to invest $45M at Fla. facility East Hartford jet-engine maker Pratt & Whitney is investing as much as $45 million over two years to convert its South Florida engine-build center to perform overhauls. Announced at the Paris Air Show, Pratt's Florida disclosure comes a week after parent United Technologies Corp. (UTC) and aerospace-defense rival Raytheon Co. revealed plans to merge their operations and relocate the joined companies' headquarters to Greater Boston. Pratt's Joe Sylvestro, vice president of aftermarket operations, said the conversion of the West Palm Beach facility from geared turbofan engine production will wrap in 2020. UTC subsidiaries have significantly grown their presence in South Florida since Pratt debuted there in the late 1950s. Landlord eyes W. Hartford senior-housing makeover A redevelopment plan to expand a 50-year-old, senior-housing community in West Hartford is pending before town planners. The nonprofit owner of the 213-unit West Hartford Fellowship Housing at 20 Starkel Road plans to tear down all but one of 24 buildings on the 8-acre site, officials say. The landlord would add six additional multi-story buildings with 264 new units, with the one remaining building containing 44 units. In total, the development would contain 308 mostly new or remodeled studio and one- bedroom units, project plans show. Project executive Mark S. Garilli, of Construction Project Group LLC, the landlord's West Hartford representative, said a fixed price tag and project financing have yet to be procured. Area May home, condo sales strong Greater Hartford home and condo sales and prices improved in May from a year earlier, according to the latest Realtor data. Single-family home sales from a smaller sample of area communities rose 5.3 percent, to 633 units, the Greater Hartford Association of Realtors said. The median sale price also grew 8.3 percent to $260,000 from a year ago. May is an important month for sales early into the spring home-sales season. According to GHAR, its sample pool now consists of Hartford and 26 area communities, down from 57 previously. Condominium closed sales rose 13.3 percent, to 171 units, in May vs. a year ago. Their median price was $169,900, a 3 percent gain from May 2018, GHAR said. Cosi opens CityPlace I eatery Fast-casual dining chain Cosi Inc. has opened its fourth Connecticut eatery, in downtown Hartford's CityPlace I skyscraper. Cosi, specializing in Mediterranean flatbread sandwiches and salads, occupies 3,702 square feet at the 185 Asylum St. tower, space that formerly housed Au Bon Pain. Cosi employs 15 workers at the new location, which will be open weekdays. Cosi had announced its five-year lease with landlord Paradigm Properties LLC earlier this spring. Cosi's other Connecticut locations are in Avon, West Hartford and Stamford. TOP STORY DOT: Hartford rail line exceeds first-year passenger goal S tate officials said the 62-mile CTrail Hartford Line outperformed its first-year goal by approximately 50,500 passengers. A total of 634,000 passengers traveled on the rail line during its first year moving riders between New Haven and Springfield, according to a report released by the state Department of Transportation (DOT). That represents 8.6 percent more riders than the 583,000 commuters DOT expected the line to carry in the first year. Gov. Ned Lamont and other state officials also lauded the $769 million Hartford Line for spurring major investments along its new and existing stations. Approximately $430 million has been invested in transit-oriented development near stations in Berlin, Meriden, Wallingford, Windsor and Windsor Locks in recent years, estimates show. That includes about 1,400 residential units and 242,000 square feet of commercial and office space that's been built or is currently being designed. According to the report, from July 2018 to April 2019, the Hartford Line averaged 51,000 passengers per month, including 2,000 boardings per day on weekdays. Under the fiscal year 2019 state budget, the Hartford Line operated at a cost of $43.9 million and generated $7.2 million in revenue. It also benefited from a $36.7 million federal/state subsidy. BY THE NUMBERS 30 The number of workers terminated re- cently by Bristol's Theis Precision Steel USA Inc. when it idled its local plant. $321.41 Connecticut's lottery spending per capita, the eighth highest in the U.S., according to an analysis by LendEDU. 92,000 The number of film and TV jobs in Georgia, some of which Gov. Ned Lamont hopes to poach to Connecti- cut, after a controversial abortion ban. 30% The approximate portion of Connecti- cut's budget consumed by contribu- tions into its various pension and retirement programs, combined with payments on its bonded debt. TOP 5 MOST READ On HartfordBusiness.com • 1. Pratt & Whitney to invest $45M at Fla. facility • 2. Would-be Hartford med-tech investor faces federal charges • 3. Ideanomics CEO: W. Hartford development to move forward following Lamont meeting • 4. Mohegan takes over Canadian casinos, entertainment complex • 5. Swanson Katz exiting consumer-counsel post STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe Weekly e-newsletters: CT Health Care Weekly www.HartfordBusiness.com/ subscribe A CTrail Hartford Line train. PHOTO | CONTRIBUTED

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