OLD BRIDGE, NJ — An Old Bridge, New Jersey, man was accusable Wednesday for allegedly application affected payments and apocryphal character annexation claims to deceive acclaim agenda companies and banks into giving him funds and extending credit, Acting U.S. Attorney Rachael A. Honig announced.
Sandy John Masselli, 56, was initially arrested in October 2017 and answerable by complaint with coffer and wire fraud. Wednesday’s allegation analogously accuse Masselli with three counts of coffer artifice and three counts of wire fraud.
According to the abstracts filed in this case and statements fabricated in court:
From June 2014 through July 2017, Masselli affianced in three abstracted but accompanying schemes to fraudulently admission acclaim and funds from assorted acclaim agenda companies and two allowance firms.
In one, Masselli opened accounts with assertive acclaim agenda companies, fabricated purchases with these accounts until he had about accomplished or exceeded the acclaim limit, and again declared to accelerate payments from coffer accounts that he knew did not accept acceptable funds to awning the purchases. Before the counterfeit payments were alone for bereft funds, the acclaim agenda companies briefly accustomed Masselli’s accounts based on those payments, accouterment him admission to added acclaim and acceptance him to abide to accomplish purchases. Masselli bootless to pay these balances and the acclaim agenda companies abiding abundant losses.In addition scheme, Masselli opened acclaim accounts with two acclaim agenda companies, fabricated bags of dollars in purchases, and again falsely represented to these acclaim agenda companies that the accounts had been opened fraudulently and acclimated after his authorization, causing these companies to aing the accounts and sustain losses.
As allotment of a third scheme, Masselli attempted to drop added than $600,000 in checks from a bankrupt annual into a new allowance account, which he again approved to use for assorted claimed expenses. Those transfers were bootless because the checks he deposited were ultimately alternate as unpaid.
The coffer artifice counts anniversary backpack a best abeyant amends of 30 years in bastille and a $1 actor fine. The wire artifice counts anniversary backpack a best abeyant amends of 20 years in bastille and a $250,000 fine, or alert the accretion or accident from the offense.
Acting U.S. Attorney Honig accustomed appropriate agents of the FBI, beneath the administration of Appropriate Agent in Gregory W. Ehrie, with the analysis arch to the indictment.
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