Martin Ho, of New Canaan, had business bank accounts with almost $450,000 in them, but the government gave his family $12,000 in food stamps in 2006 and 2007, prosecutors said.
Wednesday in Norwalk Superior Court, Ho, 52, pleaded guilty to larceny in exchange for avoiding prison.
Prosecutor Suzanne Vieux opposed the plea deal and said Ho should serve prison time for defrauding state government.
"I find the conduct of this man egregious. Not only did he steal resources from the state of Connecticut, but we had to expend further resources in investigating and prosecuting this person," Vieux said, according to the Stamford Advocate.
Ho is be sentenced to three years probation on June 17, if he can pay nearly $13,000 in restitution and a $4,000 fine.
State authorities say that when Ho and his family were using the food stamps, he had one business account with a balance that rose as high as $324,000 and an E-Trade investment account that had up to $114,000.
