Danbury Couple Charged in Toy Train Auction Scheme: Police

DANBURY, CT — After six months of investigation, Danbury police arrested a local couple on larceny charges in connection with a Toy Train auction company that went out of business. Donald and Naomi Karagianes, 54 and 52, were both charged with 12 counts of larceny in the first degree and one count of conspiracy to commit larceny. Police say the Karagianes' took high-end train pieces from collectors who wished to sell them on assignment, and did not give proceeds back to the owners.

The Karagianes operated under their company Nette (New England Toy Train Exchange) Auction out of 45 West Street. Police say there were over 60 victims with close to $700,000 in losses. To sign up for Danbury breaking news alerts and more, click here.

In a November 2016 report, victims told the News Times they hired Nette Auctions to sell their toy trains but were never paid. The News Times reported that a certificate of dissolution was filed by the company on Oct. 26.

Both Donald and Naomi Karagianes were released on a promise to appear in court on May 5 at 9:30 a.m.

Image of Donald Karagianes via the Danbury Police Department. Danbury Police did not provide a photo of Naomi Karagianes.