Joseph Nocito Sentenced For Commit Bank Fraud and Filing a False Tax Return

<h2 class&equals;"node-title">Allegheny County Businessman Sentenced to 16 Months in Prison for Fraud Scheme<&sol;h2>&NewLine;<div class&equals;"field field--name-field-pr-body field--type-text-long field--label-hidden">&NewLine;<div class&equals;"field&lowbar;&lowbar;items">&NewLine;<div class&equals;"field&lowbar;&lowbar;item even">&NewLine;<p>PITTSBURGH – An Allegheny County businessman was sentenced today in federal court to sixteen months imprisonment&comma; followed by two years of supervised release&comma; restitution of &dollar;1&comma;872&comma;935 and a fine of &dollar;25&comma;000&comma; on his convictions of conspiracy to commit <strong>bank fraud and filing a false tax return<&sol;strong>&comma; United States Attorney David J&period; Hickton announced today&period;<&sol;p>&NewLine;<div class&equals;"mh-content-ad"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js&quest;client&equals;ca-pub-9162800720558968"&NewLine; crossorigin&equals;"anonymous"><&sol;script>&NewLine;<ins class&equals;"adsbygoogle"&NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;"&NewLine; data-ad-layout&equals;"in-article"&NewLine; data-ad-format&equals;"fluid"&NewLine; data-ad-client&equals;"ca-pub-9162800720558968"&NewLine; data-ad-slot&equals;"1081854981"><&sol;ins>&NewLine;<script>&NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi;&NewLine;<&sol;script><&sol;div>&NewLine;<p>United States District Court Judge Arthur J&period; Schwab imposed sentence upon Joseph Nocito&comma; Jr&period; of Sewickley&comma; Pennsylvania&period;<&sol;p>&NewLine;<p>According to information presented to the Court&comma; Nocito knowingly and willfully conspired with other individuals to commit an offense against the United States&comma; that is&comma; <em>bank fraud<&sol;em>&comma; in connection with Nocito’s purchase of the real property located in Longboat Key&comma; Florida&period; Nocito purchased the property on July 27&comma; 2007&comma; with a <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;mortgage&sol;amp&sol;" title&equals;"mortgage" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"45">mortgage<&sol;a> loan from Washington Mutual Bank in the amount of &dollar;2&comma;377&comma;000&period; In <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;loans&sol;amp&sol;" title&equals;"loan" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"202">loan<&sol;a> documents submitted by Nocito to the bank&comma; Nocito falsely represented that the purchase price of the property was &dollar;3&comma;000&comma;000 and that a &dollar;600&comma;000 cash deposit had been made by or on behalf of Nocito toward the purported &dollar;3&comma;000&comma;000 sales price&period; As part of the conspiracy&comma; &dollar;458&comma;350 of the mortgage loan monies were paid to Nocito as kickbacks&comma; without the knowledge or approval of Washington Mutual Bank&period;<&sol;p>&NewLine;<p>Nocito also filed a <em>false tax return<&sol;em> for calendar year 2007 in which Nocito reported that his total adjusted gross income was &dollar;88&comma;269&comma; whereas&comma; as he knew and believed&comma; his correct total adjusted gross income was &dollar;529&comma;619&period;<&sol;p>&NewLine;<p>Assistant United States Attorney Mary McKeen Houghton prosecuted this case on behalf of the government&period;<&sol;p>&NewLine;<p>U&period;S&period; Attorney Hickton commended the United States Secret Service and the Internal Revenue Service&comma; Criminal Investigation&comma; for the investigation leading to the successful prosecution of Nocito&period;<&sol;p>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;justice&period;gov&sol;usao-wdpa&sol;pr&sol;allegheny-county-businessman-sentenced-16-months-prison-fraud-scheme">Original PressReleases &&num;8230&semi; <&sol;a><&sol;p>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;

Bank FraudFalse Tax ReturnFinancial FraudFraud Scheme