Local man pleads guilty in $3.8 million fraud on Payroll Protection Program




  • In US
  • 2022-08-17 15:57:34Z
  • By WPXI
 

A Scott Township man pleaded guilty in federal court to bank fraud and money laundering charges, United States Attorney Cindy K. Chung announced Tuesday.

In a release from the United States Department of Justice, 66-year-old Randy Frasinelli filed at least six fraudulent applications for loans under the Paycheck Protection Program and received more than $3.8 million.

Download the FREE WPXI News app for breaking news alerts.

Officials told the court that instead of using that money for things authorized under the PPP, like payroll, rent and utilities, Frasinelli used the money to fund investment accounts and buy for himself and his family luxury items. Those items included cars, art pieces, precious metals, firearms and a villa in Mexico.

Frasinelli pleaded guilty in court to two counts.

Frasinelli's sentencing is scheduled for December 20, 2022. According to the United States Department of Justice, the law provides for a total sentence of 30 years in prison, five years of supervised release or both.

Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW

TRENDING NOW:

Local couple welcomes first baby while taking last 'child-free vacation' in Bahamas Families call for tougher sentence for drug dealer in Fentanyl cases Crash brings down light pole, shuts down part of busy North Side road VIDEO: Local mom working to make LifeVac devices available in public places DOWNLOAD the Channel 11 News app for breaking news alerts

COMMENTS

More Related News

Ohio judge erred in freezing ex-PUCO leader Sam Randazzo
Ohio judge erred in freezing ex-PUCO leader Sam Randazzo's $8 million, appeals court rules
  • US
  • 2022-09-28 16:09:26Z

An Ohio judge should not have frozen up to $8 million of former Public Utilities Commission of Ohio Chairman Sam Randazzo's assets, court panel rules.

Green gold: Mexican avocados, beloved in U.S., fuel multi-billion dollar market
Green gold: Mexican avocados, beloved in U.S., fuel multi-billion dollar market

Hass avocado imports from Mexico, the main ingredient of guacamole - a favorite Super Bowl snack - are now worth $4 billion, up from about $2.5 billion two...

'You failed.' Former Kentucky county official sentenced in federal fraud case
  • US
  • 2022-09-28 11:05:34Z

Federal authorities said the official was involved in more than $600,000 in improper payments.

U.S. vows
U.S. vows 'big dollar' help to Pacific islands in China contest

The United States will announce "big dollar" assistance to Pacific island nations when President Joe Biden hosts a first-of-its-kind summit with their...

Man shot in leg in Turtle Creek, Allegheny County police investigating
Man shot in leg in Turtle Creek, Allegheny County police investigating
  • US
  • 2022-09-28 02:19:51Z

Allegheny County police are investigating after a shooting in Turtle Creek on Tuesday night.

Leave a Comment

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

Cancel reply

Comments

Top News: US