Financial Fraud: Frank Damico and Richard Morin Pleads Guilty In Fraud Scheme

FraudsWatch.com
Fraud Scheme

<h2>Third Defendant in Fraud Scheme Pleads Guilty<&sol;h2>&NewLine;<p>COLUMBUS&comma; Ohio – Richard Morin&comma; 48&comma; of Portland&comma; Connecticut pleaded guilty in U&period;S&period; District Court here today to one count of conspiracy&comma; a crime punishable by up to five years in prison&comma; for his role in a scheme that defrauded a Columbus-based company out of between &dollar;250&comma;000 and &dollar;1&comma;500&comma;000 over the course of a year&period;<&sol;p>&NewLine;<p>Benjamin C&period; Glassman&comma; Acting United States Attorney for the Southern District of Ohio&comma; and Angela L&period; Byers&comma; Special Agent in Charge&comma; Federal Bureau of Investigation &lpar;FBI&rpar;&comma; Cincinnati Field Division&comma; announced the plea entered before U&period;S&period; District Judge Algenon L&period; Marbley&period;<&sol;p>&NewLine;<p>Morin is the final defendant to plead guilty in connection with the fraud&period; On August 16&comma; 2016&comma; Frank Damico&comma; 52&comma; of Sunbury&comma; Ohio pleaded guilty before U&period;S&period; Magistrate Judge Kimberly A&period; Jolson to defrauding Damico’s employer by working for both his employer and a competitor at the same time and using a hunting buddy’s name to hide the fact that he was working for the two competing companies simultaneously&period;<&sol;p>&NewLine;<p>Damico pleaded guilty to one count of conspiracy to commit wire fraud&comma; a crime punishable by up to 20 years in prison and a &dollar;250&comma;000 fine&comma; and one count of subornation of perjury&comma; punishable by up to five years in prison and a &dollar;250&comma;000 fine&period;<&sol;p>&NewLine;<p>According to a statement of facts presented during Damico’s hearing&comma; Damico was national service manager for Cranel&comma; Inc&period;&comma; a Columbus company that sells and services imaging equipment&period; In November 2011&comma; Damico agreed to go into business with Morin&comma; who owned Pro Image&comma; a Connecticut company and competitor of Cranel’s&period; Damico transferred Cranel company documents containing trade secrets and confidential customer data to Pro Image&period;<&sol;p>&NewLine;<p>Early in 2012&comma; Damico asked Morin set up a Pro Image email account under the name of Josh Fetter&comma; whom court documents describe as a hunting buddy of Damico’s&period; Fetter agreed after the fact to allow his name to be used&comma; and has admitted to lying to FBI agents and a federal grand jury during the investigation of the fraud&period;<&sol;p>&NewLine;<p>As &OpenCurlyDoubleQuote;Josh Fetter”&comma; Damico emailed and called existing Cranel customers in other states&comma; persuading approximately 12 of them either switching their business to Pro Image or seeking much lower prices from Cranel&period;<&sol;p>&NewLine;<p>Fetter&comma; 32&comma; of Ashley&comma; Ohio pleaded guilty before U&period;S&period; Magistrate Judge Norah McCann King on June 29&comma; 2016 to one count of criminal contempt and is awaiting sentencing&period;<&sol;p>&NewLine;<p>Acting U&period;S&period; Attorney Glassman commended the investigation of this case by the FBI and Assistant United States Attorney Deborah A&period; Solove&comma; who is representing the United States in this case&period;<&sol;p>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;justice&period;gov&sol;usao-sdoh&sol;pr&sol;third-defendant-fraud-scheme-pleads-guilty">Original PressReleases &&num;8230&semi; <&sol;a><&sol;p>&NewLine;

Share This Article
Follow:
FraudsWatch is а site reporting on fraud and scammers on internet, in financial services and personal. Providing a daily news service publishes articles contributed by experts; is widely reported in thе latest compliance requirements, and offers very broad coverage of thе latest online theft cases, pending investigations and threats of fraud.
Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Exit mobile version