New York man convicted of $ 1.1 million bank loan, credit card fraud schemes


A former Long Island business owner has been convicted in a scheme to defraud banks, business partners and a customer over roughly $ 1.1 million.

Marcello Sozio, 65, of Huntington, was sentenced to 36 months in prison for wire fraud, according to an announcement by the United States Attorney’s Office for the Eastern District of New York on Thursday, October 14.

He was also ordered to pay around $ 1.1 million in confiscation and restitution to the victims.

“Today the accused was rightly sentenced to prison for the financial damage he caused by defrauding his business partners and lenders and stealing the parents of a young patient,” the prosecutor said. Acting of the Eastern District, Jacquelyn Kasulis. “Together with its law enforcement partners, this office will continue to seek compensation for victims and prosecute defendants like Sozio who, out of greed, commit fraud for their own financial gain.”

Sozio was the operator of a hyperbaric oxygen chamber business based in Great Neck, New York and Chicago, the US attorney’s office said.

Kasulis said that between March 2014 and December 2016, Sozio obtained approximately $ 770,000 in loans for his business and falsely claimed that business partners allowed him to apply for loans on their behalf.

He forged their signatures on loan documents and impersonated a business partner during a phone call with a lender, the US attorney’s office reported.

In addition, between September 2016 and December 2016, he “caused approximately $ 230,000 in credit card charges to the parents of a minor patient for services allegedly provided for medical reasons at a facility in Great Neck that Sozio exploited “.

However, Kasulis said Sozio did not provide these services in exchange for the billings.

Click here to sign up for free daily emails and news alerts from Daily Voice.


About Author

Leave A Reply