Ralph Darinzo, 49, of Stamford is facing two counts of first-degree larceny stemming from an investigation started in January 2011.
Police received a complaint that Darinzo, owner of Ralph Darinzo Construction, had started home improvements at a Darien residence, and had been paid up front by the homeowner to cover the initial costs of the job.
During the course of the project, Darinzo continued to ask the homeowner for payments, which he received, to pay his subcontractors, police said.
Despite being paid for the scheduled work, Darinzo failed to perform some of the work, and failed to pay the subcontractors, according to the report. One subcontractor was owed $38,000 and the homeowner was bilked out of $28,000, leading to the two charges of larceny, police said.
Stamford Police also arrested Darinzo on similar charges Friday, Feb. 8.
He was released on $50,000 bond and is scheduled to appear in court Feb. 22.