A Connecticut man accused of stealing his grandmother’s house was arrested Thursday, according to a statement from the Connecticut Chief State’s Attorney Christopher L. Morano.

Gregory Ferraro, 24, of North Branford, was arrested and charged with two counts of larceny in the first degree and three counts of larceny in the second degree of a victim over age 60, officials said.

According to the arrest warrant affidavit, Ferraro is accused of stealing thousands of dollars from his 86-year-old grandmother as well as ownership of the North Branford home where she has lived for nearly six decades.

The warrant alleges that Ferraro borrowed $24,000 from his grandmother to buy a truck but failed to repay the total amount or turn over the truck.

The warrant also alleges that Ferraro told the victim he was going to get money to repay her, but instead involved her in a transaction that gave him ownership of her home and a check for $59,807.83 that was made out to the woman as a result of the transaction.

According to the warrant, the victim has poor eyesight and believed that she was signing documents to get back the money she had loaned her grandson and not to give him ownership of the home.

Ferraro to date has paid no money to his grandmother for the house or the $59,000 check made payable to her but that he is alleged to have deposited in his account, the warrant states.

Ferraro was arrested late Thursday and released on $75,000 bond. He was arraigned Friday morning in New Haven Superior Court.

Larceny in the first degree is a class B felony carrying a maximum prison term of 20 years. Larceny in the second degree is a class C felony carrying a maximum term of 10 years.

The case is being prosecuted by the Elder Abuse Unit of the Elder Services Bureau in the Chief State’s Attorney’s Rocky Hill office.

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